Central and Eastern European private equity firm Mid Europa Partners has completed the recapitalisation of its 39.2% in T-Mobile Czech Republic, increasing its commitments under an existing financing facility to CZK10bn (€394m or US$480.3m).
Mid…
Central and Eastern European private equity firm Mid Europa Partners has completed the recapitalisation of its 39.2% in T-Mobile Czech Republic, increasing its commitments under an existing financing facility to CZK10bn (€394m or US$480.3m).
Mid Europa’s wholly-owned subsidiary, Falcon Group, today announced it had secured an extra CZK875m (€35m) under the facility with Austria-based Volksbank. Net proceeds will be distributed to Falcon shareholders.
In January, Falcon raised CZK9.125bn (€365m) via a financing package underwritten by six Czech and international banks: Citi, CSOB, Erste Group Bank/Ceska sporitelna, ING, Raiffeisen Bank International and Societe Generale. Erste Group and CSOB coordinated the facility, which allowed for an increase in the total commitments of up to CZK10bn (€400m).
Mid Europa acquired its minority stake in T-Mobile in 2006 when it bought out national broadcasting and telecoms company Ceske Radiokomunikace for €1.2bn. In December 2010, Mid Europa sold the latter to Macquarie Infrastructure and Real Assets (MIRA), a division of the international Macquarie Group, for about €574m, keeping its shareholding in T-Mobile.
