Montagu Private Equity LLP ("Montagu"), one of Europe's leading private equity firms, has completed the acquisition of TP Emitel ("Emitel") from Telekomunikacja Polska Group ("TP Group"). Emitel is the leading owner and operator of terrestrial TV and radio broadcast infrastructure in Poland.  The value of the transaction is PLN 1,725 million (€432 million).

With the support of Montagu, management plans to continue Emitel's impressive track record of growth through state-of-the-art broadcast services and continued expansion into new market segments to support telecom operators and media service providers.

Michał Chałaczkiewicz, Montagu Director responsible for CEE activities stated: "Montagu believes that Emitel has enormous opportunities to build on its market leading position. We are excited about working with an experienced and energetic management team, who are eager to accelerate the company's development to the benefit of all stakeholders."

Przemysław Kurczewski, CEO of Emitel stated: "We look forward to working alongside Montagu in Emitel's next phase of development as an independent operator of broadcasting and telecom infrastructure."

Montagu has invited selected CEE-focused international financial institutions to co-invest in the transaction, including Innova Capital, SG AM Eastern Europe Fund and the European Bank for Reconstruction and Development - while retaining majority ownership and control of Emitel.

Bastion Group acted as exclusive financial advisor to Montagu on this transaction, Allen & Overy acted as legal advisor and Ernst & Young, Arthur D. Little and Solon Management Consulting supported the due-diligence process.

Press Release

For more information please contact:

Tulchan Communications
Lucy Legh
llegh@tulchangroup.com
Tel: +44 20 7353 4200