CEE-focused private equity firm Mid Europa Partners, which holds a significant minority stake in T-Mobile Czech Republic (TMCZ), has recapitalised the company with CZK9.125bn (€365m), marking one of the largest recaps in Central and Eastern Europe since the collapse of Lehman Brothers in 2008.
The injection will allow for an additional increase in the total committments to up to CZK10bn (€400m). The net proceeds of the recapitalisation, which is one of the largest completed to date in Europe, will be distributed to the firm’s shareholders.
The CZK-denominated financing was underwritten by a group of six local and international banks, comprising Citi, CSOB, Erste Group Bank/Ceska sporitelna, ING Bank, Raiffeisen Bank International, and Société Générale.
Mid Europa bought a 39.23 per cent stake in TMCZ in 2006, together with 100 per cent of Czech telecoms infrastructure company Ceske Radiokomunikace. The firm sold the latter in January last year for €574m.
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