Viva Telecom (Luxembourg) S.A completes the acquisition of VIVACOM
On August 30, 2016 Viva Telecom (Luxembourg) S.A. acquired 100% of the capital of InterV Investment S.à r.l., Luxembourg (InterV), which indirectly owns the telecommunications operator VIVACOM. The change in ownership has already received the approval of the Bulgarian Commission for Protection of Competition.
The transaction resulted from an auction that took place on 20th of November 2015 in London, which Viva Telecom won after an offer of 330 million euro for the acquisition of InterV.
Following the completion of the transaction, Viva Edge Telecom Limited which is ultimately owned by Mr. Spas Roussev has become the largest shareholder in the company with a 46% stake. Other minority investors are comprised of entities affiliated with VTB, Delta Capital Investments OOD (ultimately controlled by Messrs. Milen Velchev, George Velchev and Krassimir Katev), Mr. Michael Tennenbaum and companies managed by Mezzanine Management Central Europe II Limited.
Mr. Spas Roussev expressed the intention of the new shareholders to work actively with Vivacom management to preserve and grow the operator's leading positions in the telecom market, continue to invest in high quality products and customer service, streamline operations and maintain open relations with regulators and other state entities.
Furthermore, pursuant to the terms and conditions set forth in the consent solicitation statement dated May 25, 2016 (the "Consent Solicitation Statement") Vivacom will make a cash payment on September 7, 2016 of €2.50 for each €1,000 principal amount of its 6⅝% Senior Secured Notes due 2018 (the "Notes") held by each holder of the Notes who validly delivered, and did not revoke, a duly executed consent prior to 5:00 p.m., London time, on June 13, 2016.
This announcement has been issued through the Companies Announcement Service of
The Irish Stock Exchange
This information is provided by RNS