KKR-backed United Group, a multi-media operator in South East Europe, has invested further into the region with the acquisition of Croatian and Slovenian media assets from Central European Media Enterprises (CME).
CME’s portfolio of assets includes major TV channels in Slovenia and Croatia.
United Group, which is also backed by the European Bank for Reconstruction and Development, operates pay-TV, broadband, telephony and mobile services. It will invest in CME’s television channels to further build their local production capabilities and expand regionally and internationally beyond their respective local markets.
Private equity firm KKR has already invested over $8bn in telecoms, media and digital sectors globally.
Jean-Pierre Saad, director at KKR, said: "KKR has a strong track record of supporting media and telecom businesses to grow further in the current digital ecosystem. By investing in high quality local and international content, we will support the United Group teams to continue to offer differentiated and attractive content to all its customers across the region. KKR, EBRD and United Group will work closely with all relevant authorities to ensure a smooth transition, in line with European standards."
Dirk Werner, Director Information and Communication Technologies at the EBRD, added: "Today's announcement represents a strong a vote of confidence in the Croatian and Slovenian economies by a leading international investor and will offer consumers direct access to high quality local and international digital content."