AFK “Sistema” for the deal to acquire controlling blocks of shares in six companies Bashkir TEKa attracted VTB loan at $ 2 billion, said the presentation of the company. In the mortgage loans transferred to 17% of the shares of OJSC “Mobile Telesystems” and the shares acquired. Credit held for a period of 7 years. Currently the company is negotiating to bring another loan of 1 billion dollars
Total for the purchase of six of the Bashkir ECPs Sistema may need up to $ 3 billion of which U.S. $ 2.5 billion – the amount of the deal to buy majority stake in OOO Agidel-Invest “,” Ural-Invest, Inzer – Invest and Yuryuzan Invest in OAO ANK “Bashneft”, “Ufaneftehim, Novoil, Ufaorgsintez, Ufa Refinery and Bashkirnefteprodukt.” The payment will be made in two tranches: $ 2 billion – after the completion of transactions and 0.5 billion dollars – over 14 months. The completion of transactions depends on the implementation of a number of preconditions. In addition, companies will need funds to purchase shares from minority shareholders on a mandatory offer.
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Categorized | M&As in Telecom
Sistema got from VTB a $2 billion credit for the purchase of controlling blocks of Bashkir TEKa on bail 17% stake in MTS
Posted on 05 April 2009
April 5th, 2009 at 3:31 pm
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Allen Taylor