BELGRADE (Serbia), November 23 (SeeNews) - Telecommunications operator Serbia Broadband (SBB) said it has acquired the entire capital of local sector player Kabel Group 85 for an undisclosed sum.
As of result of the merger, the assets of Kabel Group 85, worth 17.8 million dinars ($176,643/149,132 euro), and its liabilities of 1.5 million dinars, were transferred to SBB on October 31, according to a draft merger agreement posted on the website of SBB earlier this week.
On the date of the conclusion of the agreement, SBB becomes the sole shareholder of Kabel Group 85, which has registered capital of 40,150 dinars in cash and 25,994 dinars in kind, the agreement reads.
SBB is part of United Group, a company owned by US investment firm KKR and the EBRD. It is the leading digital and analogue cable TV, broadband Internet and landline phone system operator in Serbia.
(1 euro = 119.358 dinars)