October 15 (SeeNews) - Multinational private equity firm Kohlberg Kravis Roberts said on Tuesday it has signed an agreement under which funds advised or controlled by KKR will acquire from Mid Europa Partners the SBB/Telemach Group, which operates on the markets of ex-Yugoslavia.
The executive management team of SBB/Telemach Group, led by founder Dragan Solak, will remain in place and retain a substantial stake in the Group, KKR said in a statement.
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The financial terms of the transaction were not disclosed. The transaction is subject to customary approvals and is expected to close around year-end 2013.
SBB/Telemach Group is the leading Pay-TV and broadband operator in Southeast Europe, with a population of over 20 million in its current operating perimeter. It operates in Serbia, Slovenia, Bosnia, Croatia, Montenegro and Macedonia and has around 1.7 million cable and satellite TV, broadband, fixed and mobile customers.
KKR, listed on the New York Stock Exchange, is a global investment firm with $83.5 billion (61.6 billion euro) in assets under management as of June 30.
($=0.7375 euro)