Moldova: Schoenherr advises Fintur on the divestment of Moldcell to CG Cell Technologies DA
Schoenherr advised Fintur Holdings B.V., wholly-owned by listed Swedish telephone company Telia Company AB, on the divestment of its 100 % holding of Moldcell S.A., to CG Cell Technologies DAC for USD 31.5 million.
The transaction agreement was announced on 14 February 2020. The divestment is expected to be completed during the first quarter of 2020.
Schoenherr Moldova advised on all aspects of the transaction including vendor due diligence and transaction documentation.
In the beginning of 2019 Turkish Fintur Holdings B.V. became part of Telia, a Swedish-Finnish multinational telephone company and mobile network operator present in Sweden, Finland, Denmark, Lithuania, Latvia and Estonia. With approximately 900,000 customers, Moldcell is Moldova’s second largest telecoms operator. The divestment of Moldcell marks Fintur's exit from the Eurasian market.
CG Cell Technologies is wholly-owned by the Nepalese business group CG Corp Global, which has over hundred companies under its umbrella.
The Schoenherr team was led by Vladimir Iurkovski (corporate/m&a), who heads Schoenherr Moldova in Chisinau, and additionally included Andrian Guzun and Denis Lefter.
CG Cell Technologies DAC was advised by Gladei & Partners.