PPF SEEKS 2.3 BILLION-EURO LOAN FOR TELEFONICA CZECH PURCHASE
(The following press release from SocGen was received by e-mail. The sender verified the statement.)
PPF Group to acquire majority shareholding in Telefónica Czech Republic, a.s.
On 5th November, 2013, PPF Group NV (“PPF”) entered into an agreement to acquire a 65.9% shareholding in Telefónica Czech Republic, a.s., including its 100%-owned subsidiary Telefónica Slovakia, s.r.o., (“Telefonica CR/SK”, or the “Company”), from Telefónica, S.A (“Telefonica”). Subsequently, PPF will launch a Mandatory Tender Offer in order to bid for the remaining shares (the “Transaction”). Telefonica will retain a 4.9% stake in the Company post Transaction.
PPF will finance the Transaction through an equity tranche of CZK 35.5 billion (EUR 1.4 billion) and a EUR 2,288 million syndicated loan. In this regard, PPF has mandated Societe Generale Corporate & Investment Banking as Coordinating Mandated Lead Arranger. Societe Generale Corporate & Investment Banking together with Citi, Credit Agricole CIB, Deutsche Bank AG, London Branch, ING Bank N.V., KBC Bank NV/Československá obchodní banka, a.s., The Royal Bank of Scotland plc and UniCredit Bank Austria AG have arranged and fully underwritten EUR 2,288 million of senior secured credit facilities in support of the Transaction. The Banks will act jointly as Underwriters, Mandated Lead Arrangers and Bookrunners.
Headquartered in Prague, Telefonica CR/SK is the largest integrated telecommunications operator in the Czech Republic, offering a comprehensive range of both fixed and mobile voice, data and internet services. The Company has also been offering mobile services to customers in Slovakia since 2007. It operates more than seven million lines, both fixed and mobile, making it one of the leading providers of fully converged services in Europe. In 2012, the Company generated revenues and EBITDA of CZK 50,534 million and CZK 19,781 million, respectively.
PPF is a privately held international investment group and one of the largest investors in Central and Eastern Europe, with assets totalling EUR 22.113 billion (as at 30 June 2013).
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