Providence Equity Partners to acquire telecommunications group BITĖ


SORAINEN is advising Providence Equity Partners on the acquisition of telecoms group BITĖ from Mid Europa Partners for an undisclosed value. The transaction is expected to complete in the first quarter of 2016.

Providence Equity Partners is a premier global asset management firm with USD 45 billion in assets under management across complementary private equity and credit businesses. They have pioneered a sector-focus approach to private equity investing.

BITĖ Group controls a leading mobile operator in the Baltic countries (the second largest in Lithuania and number three in Latvia) that is focused on meeting growing demand in the region for a high quality network experience and providing excellent customer service. BITĖ Group offers a wide range of mobile services, internet access and data services for business and residential customers through its nationwide coverage.

SORAINEN is advising the client in cooperation with international law firm Weil. The SORAINEN team in this transaction is led by partners Algirdas Pekšys and Laimonas Skibarka and includes specialist counsel Stasys Drazdauskas, senior associates Jonas Kiauleikis, Jurgita Karvelė, Ieva AndersoneJānis Bite and associates Jorens Jaunozols, Natālija Šestakova and Valts Nerets.


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