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Providence Equity Partners €115 million acquisition of Modern Times Group's Baltic business

18/10/2017
Private acquisition
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€ 115 million

$ 124.325 million

Completed

18/10/2017

Overview:

  • Bitė Lietuva and its shareholders Providence Equity Partners has acquired the Baltic businesses of the Sweden-based Modern Times Group (MTG) for €115 million.
  • The deal included three TV channels in Estonia (TV3, TV3+, TV6), five in Latvia (TV3, TV3+, TV6, Kanāls 2, LNT), three in Lithuania (TV3, TV6, TV8), pan-Baltic pay TV company Viasat, nationwide commercial radio stations and other companies.
  • MTG had a 20-year track record operating in the Baltic region prior to the sale.
  • Providence Equity Partners is a US private equity house.

Jon Moore - Journalist

Jurisdictions:

Sweden
Estonia
Latvia
Lithuania

Deal type:

Private acquisition

Practice areas:

Private equity
M&A

Governing laws:

Latvia
Lithuania
Estonia

Industry sector:

Media

Firms:
Cobalt

Party: Modern Times Group (MTG) (Seller)

Lawyers: Dace Silava-Tomsone, Irmantas Norkus, Juozas Rimas, Martin Simovart, Peeter Kutman

Hamilton

Party: Modern Times Group (MTG) (Seller)

Mannheimer Swartling

Party: Providence Equity Partners (Acquirer)

Sorainen

Party: Providence Equity Partners (Acquirer)

Party: Bitė Lietuva (Acquirer)

Lawyers: Augustas Klezys, Eva Berlaus, Laimonas Skibarka, Mantas Petkevičius, Rūdolfs Eņģelis

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