Крупнейшая сделка в странах Балтии за 2017 год - Providence Equity Partners берет на себя руководство бизнесом Modern Times Group в странах Балтии

18.10.2017

Sorainen advised Bitė Lietuva and its shareholders Providence Equity Partners on the largest acquisition deal in the Baltics in 2017 – taking over the business of Modern Times Group (MTG) in the Baltics. The acquisition was completed on 18 October 2017. Total disclosed value of the deal is EUR 115 million.

MTG Baltics is the leading pan-Baltic media house with free TV and pay TV broadcasting assets together with complementary radio assets and a strong digital presence. Bitė Lietuva acquired the following MTG businesses in the Baltics: three TV channels in Estonia (TV3, TV3+, TV6), five TV channels in Latvia (TV3, TV3+, TV6, Kanāls 2, LNT), three TV channels in Lithuania (TV3, TV6, TV8), the pan-Baltic pay TV company Viasat, along with nationwide commercial radio stations and other companies.

Comments Laimonas Skibarka, co-managing partner at Sorainen: “This transaction is important not only because it is the largest acquisition in the Baltics this year. Even more importantly, it is the largest ever deal in the Baltic media industry and another example of a growing international trend when telecom companies acquire content providers. For us at Sorainen it was a great opportunity to demonstrate the regional capabilities of our Communications, Media and Technology sector group”.

Bitė Lietuva controls a leading mobile operator in Lithuania that focuses on meeting growing demand for a high quality network experience and providing excellent customer service. Bitė offers a wide range of mobile services, internet access and data services for business and residential customers through its nationwide coverage.

Providence Equity Partners is a premier global asset management firm with USD 50 billion in assets under management across complementary private equity and credit businesses. They have pioneered a sector-focused approach to private equity investment and focus on investment in the media, communications, education and information.

The transaction involved a complex merger clearance process in Latvia and the first ever clearance from the Latvian Government under the new requirements of the Latvian Law on National Security. The Sorainen team in the transaction was led by partner Laimonas Skibarka and included counsel Stasys Drazdauskas and Mantas Petkevičius, senior associate Jonas Kiauleikis and associates Ignas Motiejūnas, Inga Macijauskaitė and Vytautas Sabalys in Lithuania, partner Eva Berlaus, senior associates Valts Nerets and Jānis Bite and associate Marika Grunte in Latvia, senior associate Juulika Aavik and associate Cathriin Torop in Estonia, and others. Sorainen advised the client in cooperation with Swedish law firm Mannheimer Swartling.

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