PRINT THIS PAGE Warburg Pincus buys Hungarian cable company from Argus Capital06/08/2004. Source: AltAssets. 
 Warburg Pincus has acquired Hungarian cable communications provider FiberNet from Argus Capital Partners, a Central and Eastern European private equity firm. The transaction has been valued at around $72m.
FiberNet was established in 1999, when Argus invested $12.5m for a majority stake. Today, the company is the largest independent cable television operator in Hungary with 130,000 subscribers.
'The cable television market globally has gone through a difficult period since our original investment in 1999 giving declining valuations as prospective buyers focused on underlying profitability rather than price per subscriber number,' said Ali Artunkal, managing partner of Argus. 'In spite of these factors, FiberNet, has been a good investment for Argus.'
Argus Capital Partner was founded in 1999 to make private equity investments in Central and Eastern Europe, principally focused on Poland, the Czech Republic and Hungary. The firm held a final closing of its debut fund in September 2000 with $172m of commitments.
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