Majority Owner to Sell Share in United Group

As the Vreme Daily learns, the investment fund BC Partners has initiated the process of the sale of the majority stake in United Group. When the group’s CEO was asked to comment, neither confirmation nor denial was given.

When, in March 2019, the investment fund BC Partners, headquartered in London, became the majority partner in United Group (UG), within which SBB, the TV stations N1 and Nova S, the Danas daily, and since recently, the Radar weekly, operate in Serbia, it was clear that it wouldn’t last forever. The average stay of investment funds’ capital in a single business project lasts a few years, the shorter, the better.

BC Partners owns a 55% stake in United Group, which they bought from KKR Fund for EUR 2.6 billion. Dragan Solak is a minority owner of UG.

As Vreme learns in the circles involved in the sale, BC Partners has initiated the process of the sale of the majority stake in UG, which, primarily in the domain of telecommunications, operates in Greece, Bulgaria, Slovenia, Croatia and Serbia. For that purpose, it has hired the investment banks Morgan Stanley and J.P. Morgan.

The aim is to sell the entire ownership package in UG at once. A public bidding is expected to be organized for that purpose.

The Greek portal Naftemporiki writes that the telecommunications company Etisalat from the United Arab Emirates and Saudi Telecom are interested in the purchase. Saudi Telecom, through its company TAWAL, bought out TC towers owned by UG in Bulgaria, Croatia and Slovenia last year.

The Greek media earlier wrote that, if it doesn’t find a purchaser for the entire stake in UG, BC Partners will consider first selling only the Greek media company and local operator Nova.

United Grupa BROADBAND INVESTMENT S.à r.l.

SBB d.o.o. Beograd

UG. UNITED GROUP INC Beograd

BC Partners

United Group

Etisalat

Saudi Telecom

TAWAL

Dragan Šolak

London

SBB

N1

Nova S

Danas

Radar

sale of majority stake in United Group