Buy-out at Serbian pay-TV company

Buy-out at Serbian pay-TV company

Published: October 16, 2013

Private-equity firm Mid Europa sells SBB/Telemach Group to KKR.

Serbia’s SBB/Telemach Group, a pay-TV and broadband internet provider, has changed hands in a secondary buy-out.

Mid Europa Partners, a private-equity firm focused on Central and Eastern Europe that acquired SBB in 2007, has sold the business to Kohlberg Kravis Roberts & Co (KKR) for an undisclosed sum.

During its six years under Mid Europa’s ownership, SBB has expanded into Slovenia, Bosnia, Croatia, Montenegro and Macedonia. The private-equity firm also helped the company to acquire 18 other businesses.

The deal is subject to regulatory approval and is expected to close at the end of 2013 or early next year.

Credit Suisse acted as financial adviser to Mid Europa.