CMS Cameron McKenna LLP recently advised on one of the largest and most complex transactions this year in Central and Eastern Europe. The firm acted for longstanding client Rumford Alliance in the partial exit of their cable TV portfolio to EQT V, a European private equity fund.
The firm’s relationship with Rumford dates back several years, having advised them on the financing and acquisition of 14 telecommunications companies in Bulgaria and Macedonia, part of which has now been sold to EQT.
In parallel, EQT acquired the majority interest in Bulgaria's two largest cable operators, CableTel and Eurocom, which together have half a million subscribers. The expected profits from the new company are estimated at €70 million per year. The total value of these two deals is €210 million.
David Butts, Managing Partner in the firm’s Sofia office, led the team that worked on the transaction. He comments, “We are extremely pleased to have been able to support our longstanding client, Rumford, in one of the most significant cross border deal to occur in the region this year. This transaction also enabled us to use our extensive experience in the TMT sector and reflects our commitment to support our clients in relation to their industries.”