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Schoenherr has advised the Swedish telecommunications group Tele2 AB ("Tele2") on the sale of its Croatian business to United Group, a leading telecoms and media provider in South East Europe, for an enterprise value of EUR 220m
Closing is expected before the end of 2019 and is subject to approval from the relevant regulatory bodies including the Croatian Competition Agency.
Tele2 is a Swedish telecommunications group and was founded in 1993. The company has been listed on Nasdaq Stockholm since 1996. In 2018, Tele2 generated revenue of SEK 30 billion and reported an adjusted EBITDA of SEK 9 billion.
Headquartered in Amsterdam, United Group is a leading connectivity and media provider in South East Europe. It has the broadest network coverage in the region with 3.82 million subscribers and offers both local and international content. United Group has operations in six countries and employs around 4,400 employees.
The Schoenherr team advising on the transaction consisted of Alexander Popp (partner, Vienna, corporate/m&a), Michael Marschall (associate, Vienna, corporate/m&a), Ivan Einwalter (attorney-at-law, Zagreb, corporate/m&a), Robert Bachner (partner, Vienna, corporate/m&a), Manuel Ritt-Huemer (attorney-at-law, Vienna, corporate/m&a), Christoph Haid (partner, Vienna, competition), Ana Marjančić (associate, Zagreb, corporate/m&a), Marko Kapetanović (attorney-at-law, Zagreb, corporate/m&a, competition), Ana Marija Rupčić (associate, Zagreb, banking & finance), Dina Vlahov Buhin (attorney-at-law, Zagreb, corporate/m&a).
United Group was advised by Kirkland & Ellis and Divjak, Topic & Bahtijarevic.