Epic Services Ukraine (ESU) has confirmed plans to buy a 92.79% stake in Ukrainian incumbent Ukrtelecom, the country’s State Property Fund (SPF) has said.
ESU is a subsidiary of Austrian investment firm Epic.
The Hr10.58bn (US$1.32bn) deal is expected to…
Epic Services Ukraine (ESU) has confirmed plans to buy a 92.79% stake in Ukrainian incumbent Ukrtelecom, the country’s State Property Fund (SPF) has said.
ESU is a subsidiary of Austrian investment firm Epic.
The Hr10.58bn (US$1.32bn) deal is expected to be signed by February 25.
Earlier this month, the independent adviser hired by the Ukrainian government valued the 92.79% stake in Ukrtelecom put up for sale at Hr10.575bn (E968m), which is close to the auction starting price, according to reports quoting a source close to the deal. In December, Epic Services Ukraine was the sole bidder for the stake in the telecoms incumbent, offering Hr10 (E0.9) above the minimum price of Hr10.5bn (E561m).
As there was only one bidder, the authorities appointed an independent adviser to assess the valuation of the company.
Ukrtelecom’s creditors, Credit Suisse and Deutsche Bank, reportedly asked for the early repayment of the US$222m balance of a US$500m loan raised in 2005 because of the change of ownership.
