KKR sells stake in United Group, SBB owner
US investment company KKR has agreed to sell its majority stake in the European telecommunications company United Group, the owner of cable provider SBB.
The buyer is British company BC Partners, the Wall Street Journal reported on September 27, according to Beta agency.
United Group, created in 2007 in a merger of SBB, Telemach Slovenija and Telemach Bosna, is the owner of cable provider SBB in Serbia, Telemach in Slovenia, Bosnia-Herzegovina and Montenegro, and TV channels Sport Klub, N1, Cinemania, TOP, Ultra, Grand and others.
A joint statement of the two companies did not disclose the financial terms of the sale, or the size of the stake, said the report, adding that the Wall Street Journal said that, citing well-informed sources, the value of United Group had been estimated in the agreement at EUR 2.6 billion, including the debt.
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