Photo: Dragan Šolak, Board President, United Group
United Group, the leading multi-play (Pay-TV, Broadband, Telephony, Mobile) operator in South East Europe, backed by leading US investment firm KKR and the European Bank for Reconstruction and Development (“EBRD”), has agreed to acquire the Croatian and Slovenian media portfolio owned by CME, including the Nova TV and POP TV.
In a press release Monday, KKR states that the portfolio of assets includes leading TV channels in Slovenia and Croatia, two economies estimated to post real GDP growth of over 2% annually between 2016 and 2018.
United Group will continue to invest in those channels to further build their local production capabilities and expand their reach beyond their respective local markets.
The Central European Media Enterprises (CME) announced on Monday that they sold their media operations in Croatia and Slovenia to Slovenia Broadband, a United Group subsidiary, for 230 million euros, and expect the transaction to be completed by the end of the year.
In Croatia, CME owns Nova TV in its portfolio, and in Slovenia POP TV.
The total operating profit before depreciation of Nova TV and POP TV in the period of 12 months prior to the end of March 2017, amounted to $13.8 million.
The statement further ads that KKR has invested over $8bn in Telecoms, Media and Digital sectors globally and has particular expertise in supporting businesses grow and develop in the digital age.
Since 1996, KKR has invested in 58 companies across sectors in Europe, representing over $20 billion in invested long-term capital, as of 31st March 2017.
“KKR has a strong track record of supporting media and telecom businesses to grow further in the current digital ecosystem. By investing in high quality local and international content, we will support the United Group teams to continue to offer differentiated and attractive content to all its customers across the region. KKR, EBRD and United Group will work closely with all relevant authorities to ensure a smooth transition, in line with European standards,“ said Jean-Pierre Saad, Director at KKR, in a press release that states the transaction is subject to relevant regulatory approvals.
United Group is majority owned by the KKR (Kohlberg Kravis Roberts & Co. L.P) since March 2014, after it was acquired from the Mid Europa Partners, and its Board President is Dragan Šolak.
