Turkcell Says Ukraine Arm Valued at $525 Million in Sale to NJJ
Xavier Niel
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Turkey’s biggest telecommunications operator said it is selling its Ukrainian business to French billionaire Xavier Niel’s investment company NJJ Capital for an enterprise value of $525 million.
Turkcell Iletisim Hizmetleri AS agreed to sell the business, including Lifecell LLC, Global Bilgi LLC and UkrTower LLC, to NJJ in December for an undisclosed price. The final value will be determined at the close, taking into consideration the unit’s cash and debt position, Turkcell said in a filing on Tuesday. It follows NJJ’s comment on Monday that the deal price would be upwards of $500 million.