As part of work to attract major international investors to the EBRD region, and in support of our Knowledge Economy Initiative, we increased our investment in SBB/Telemach, now part of the United Group. The investment was made when leading global firm KKR acquired a controlling interest in the group.
We invested €50 million alongside funds affiliated with KKR, which was making its first direct investment in central and eastern Europe. United Group is a leading regional provider of Pay-TV platforms and telecommunications, with operations in Serbia, Slovenia, Bosnia and Herzegovina, Montenegro, Croatia and FYR Macedonia. With the support of KKR and the EBRD, the group will undertake ambitious expansion plans.
Our investment not only promotes competition within the telecommunications sector in the region. It also demonstrates the appeal of the Western Balkans to world-class private equity players, who bring large amounts of capital and the highest standards of corporate governance to their investee firms.