SJB, Kirkland and Simpson Thacher lead on €1bn KKR Serbian cable deal
SJ Berwin, Kirkland & Ellis and Simpson Thacher & Bartlett have won roles advising on buyout firm Kohlberg Kravis Roberts' (KKR's) takeover of Serbia's largest cable company in a deal worth €1bn (£847m). The buyout firm has bought telecommunications company SBB/Telemach from private equity group Mid Europa Partners. The acquisition marks US-headquartered KKR's first investment in eastern Europe. It is expected to complete by the first quarter of 2014.
October 23, 2013 at 12:05 PM
2 minute read
SJ Berwin, Kirkland & Ellis and Simpson Thacher & Bartlett have won roles advising on private equity firm Kohlberg Kravis Roberts' (KKR's) takeover of Serbia's largest cable company in a deal worth €1bn (£847m).
The buyout giant has bought telecommunications company SBB/Telemach from private equity group Mid Europa Partners. The acquisition marks US-headquartered KKR's first investment in eastern Europe. It is expected to complete by the first quarter of 2014.
SJ Berwin acted for SBB/Telemach founder Dragan Solak with a team led by client relationship partner and private equity lawyer Martin Bowen, who was supported by tax partner Gareth Amdor.
Kirkland & Ellis' London office advised longstanding client Mid Europa on its disposal with a team comprising corporate partners Rory Mullarkey and Andrej Wolf, and debt finance partners John Markland and William Burke.
KKR instructed a team from Simpson Thacher's City arm, with M&A partner Alvaro Membrillera leading.
Bowen said: "This landmark transaction demonstrates the potential for excellent private equity returns from less developed deal markets, if you are able to back a company with strong executive leadership and management like SBB/Telemach."
Simpson Thacher is a regular adviser to KKR. Earlier this month the firm represented the group on its $1bn (£627m) purchase of construction manufacturing assets Crosby and Acco from Melrose Industries.
Other recent Simpson Thacher mandates for KKR include March's $3.9bn (£2.4bn) acquisition of industrial machinery manufacturer Gardner Denver.
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