The European Bank for Reconstruction and Development (EBRD) is selling its shares in Atlant Telecom, a privately-owned leading Belarusian telecommunications operator. The buyer, Telekom Austria Group, will acquire the 35 per cent stake currently owned by the EBRD as well as the remaining stake owned by ZUBR Capital, a Belarusian equity firm.
The original investment in Atlant Telecom was made by the EBRD in 2011. Over the past five years – a typical equity investment horizon for the EBRD – the Bank and ZUBR Capital have transformed Atlant Telecom into a market leader, delivering fixed broadband, IPTV and cable TV, as well as video and audio services to around 190,000 fixed broadband and around 50,000 cable TV subscribers.
Commenting on the transaction, EBRD Head of Belarus Alex Pivovarsky said: “Our involvement with Atlant Telecom helped the company become a market leader and attract the interest of a strategic investor, Telekom Austria Group. We regard this transaction as one of the most successful exits in the local IT market. We hope it will become a catalyst for more M&A deals in Belarus.”
Since the start of its operations in Belarus in 1992, the EBRD has invested almost €1.8 billion in some 70 projects in various sectors of the country's economy.