Project description
and objectives:
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A US$ 20 million (€23.2 million) equity investment in Globtel a.s., a leading provider of wireless telecommunications services in the Slovak Republic.
The Bank’s participation in the private placement will enable full privatisation of the company. Importantly, it will also provide necessary funds to the sellers, allowing them to continue the restructuring of their core businesses. The private placement and the Bank’s participation will support the future IPO of the Company.
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Transition impact:
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Globtel’s private placement is serving as a vehicle to divest the 36 per cent shareholdings held by Slovak state-owned enterprises in the company. This will have a demonstration effect on other infrastructure privatisations in the sector. The private placement is also confirming Slovakia’s commitment to the acceleration of market reforms, while sending an important message of confidence to financial investors and facilitating foreign capital inflows.
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The client:
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Globtel a.s. is the leading mobile telecommunications company in the Slovak Republic, in terms of revenue and market share. The company has been in operation since 1997 and runs a dual GSM 900/1800 network covering 85 per cent of the country. Globtel is a part of the France Telecom Orange group, enjoying the benefits of a strong strategic investor, including the transfer of management skills, competitive marketing and technology, while still operating independently.
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EBRD finance:
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The Bank is purchasing a US$ 20 million equity stake in the company, as part of a US$ 180 million private placement.
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Total project cost:
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US$ 180 million (€208.5 million)
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Environmental impact:
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The project has been classified as C/0 and therefore does not require an environmental analysis or audit. There are unlikely to be any significant environmental issues associated with this operation.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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EBRD contact:
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Janis Feldmanis, Operation Leader: feldmanj@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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