Click here for printer friendly page
Mid Europa Partners to acquire Baltic mobile operator Bité from TDC22/01/2007. Source: AltAssets. 
 Mid Europa Partners, formerly known as EMP Europe, has agreed to acquire 100 per cent of Baltic mobile operator Bité from TDC.
Craig Butcher, partner of Mid Europa, said, 'We are delighted to acquire this high quality asset in what has been a highly competitive process. It represents our first investment in both Lithuania and Latvia, the fastest growing economies of the EU, and our fifth investment in mobile GSM. Mid Europa's strategy for Bité is to leverage our strong track record and established relationships in the mobile telecommunications sector to add significant value to Bité as it seeks to consolidate its already strong market position in Lithuania and expands in Latvia.'
Matthew Strassberg, director of Mid Europa, added, 'We have received very strong interest from a number of debt financing parties interested in supporting, through innovative structures, this investment, which will rank as the largest buy-out in the Baltics and among the largest in Central Europe.'
Mid Europa invests in businesses based in or with significant exposure to the CEE region. Including the acquisition of Bité, Mid Europa's current fund, Emerging Europe Convergence Fund II, has now been over 50 per cent committed, the firm told AltAssets. Emerging Europe Convergence Fund II closed on €650m in December 2005.
Mid Europa has offices in Budapest, London and Warsaw.
Copyright © 2007 AltAssets
|
