Telekomunikacja Polska Group ("TP Group") is pleased to announce that it has signed a preliminary agreement to sell Emitel, the leading terrestrial TV and radio broadcast infrastructure operator in Poland, to Montagu Private Equity ("Montagu"), one of Europe's leading private equity companies for a total sum of PLN 1.7 bn (the transaction denominated in PLN is an equivalent of approximately €425m). 

Commenting on the announcement, Maciej Witucki, CEO of TP Group stated: "This agreement is in line with TP Group's strategy of streamlining our business and focusing on our core activities. We are convinced that Emitel will continue on its path of dynamic growth under the stewardship of Montagu." 

Michał Chałaczkiewicz, Montagu Director responsible for CEE activities stated: "This marks Montagu's first direct investment in Poland, and its second investment in Central and Eastern Europe (CEE). Emitel provides essential services in attractive and growing markets. The business has a strong track record of profitability which we hope to build on by expanding the services it provides to broadcasters and telecoms providers across Poland. We are excited about working with what we consider to be a first-rate management team, and supporting the business in its next phase of development as an independent operator of broadcasting and telecom infrastructure." 

The transaction is expected to close subject to competition clearance (UOKiK - Office of Competition and Consumer Protection).

Bastion Group acted as exclusive financial advisor to Montagu on this transaction. Allen & Overy acted as legal advisor. Ernst & Young, Arthur D. Little and Solon Management Consulting supported the due-diligence process. 

Rothschild acted as exclusive financial adviser to TP Group, and White & Case acted as legal adviser. PwC additionally supported TP Group in the transaction process.

Press Release

Back to top