Providence Equity Partners is in the process of acquiring a minority share in Ukrainian cable and internet company Volia, New Media Markets has learned. The US private-equity firm, which specialises in investments in the media and telecommunications sector, is understood to be taking a 44-per-cent stake in the Kiev-based company. SigmaBleyzer, the private-equity firm behind Volia, would not confirm nor deny any deal with Providence Equity Partners, but told New Media Markets that "there may or may not be information coming forward" in this regard. "The parties are still in a process of moving forward," it added. Volia is the Ukraine's largest cable-television provider and has around 530,000 subscribers, 90 per cent of which are based in the capital. The deal is understood to value the company is at an estimated US$475 million (￡230 million). One senior executive familiar with the situation said: "Volia is a good business and it's growing strongly. It's a bite-sized deal for Providence." Earlier this year, SigmaBleyzer denied that it would put Volia up for sale, saying that it was instead considering launching an initial purchase offer (IPO) on the Kiev stock exchange. Alexander Paraschiy, analyst with national investment bank Concorde Capital, admitted his surprise that a sale to private equity was preferred to a public flotation.
展开▼
