The EBRD is considering investing in Trivon AG (“Trivon” or the “Company”), an internet broadband provider operating in Russia under the Virgin Connect brand. The financing will allow the Company to expand the coverage of its internet broadband services in the Russian regions through the acquisition of broadband internet operators as well as the organic growth of the Company’s networks.
The project will address the low broadband penetration in Russia and in particular in the regions outside of Moscow and St Petersburg which today are still underdeveloped in terms of broadband internet services. The Company’s expansion in sparsely penetrated regions would contribute to increasing broadband penetration in such regions as well as to driving prices down over time.
At the same time, the involvement of Virgin Group, with their standards of excellent corporate governance and business practices, applied to Trivon and the acquisition targets, will have a positive impact on practices in Russia.
Trivon AG is an internet broadband services provider incorporated in Switzerland and operating in Russia. Trivon operates a combination of fixed and wireless broadband networks for which it owns licenses in 33 Russian regions. Trivon has been operating under the Virgin Connect brand after securing a brand license agreement with the Virgin Group for Russia and the CIS region.
Up to US$ 30.5 million equity in Trivon AG.
Up to US$ 106 million equity round.
The project was categorised “B” which means that an environmental and social analysis was required by the Bank, in accordance with the 2008 Environmental and Social Policy and Performance Requirements (PRs)
The project is unlikely to be associated with any significant environmental and social issues. The Environmental and Social Due Diligence has been carried out through a review of the completed Environmental and Social Questionnaire and Human Resource Due Diligence Questionnaire. The company is required to adopt the Bank's Sub-sectoral Environmental and Social Guidelines for the Telecommunication Sector in addition to carrying out the project in accordance with relevant Performance Requirements.
Markus Mueller, Chief Executive Officer Trivon AG
Chamerstrasse 50, 6300 Zug, Switzerland
Telephone: +41 41 710 68 08
Fax: +41 41 710 68 09
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