Polkomtel acquired stake in Liberty 6 March 2008
Polkomtel S.A. (“Polkomtel”) and Telera Holding B.V., concluded a contract on the 6th of March, on the acquisition of a 38.42% interest in Liberty Poland S.A. (“Liberty”) by Polkomtel S.A. The transaction is connected with an exit of Innova 98/L.P. fund from its investment in Liberty. Innova 98/L.P. is managed by Innova Capital (“Innova Capital”). As a result, Telera Holding B.V. and Polkomtel S.A. will jointly control 100% of Liberty shares.
As a result, Wieslaw Wisniewski, who has been crucial to Liberty’s successful development to date, will continue to play a key role in day-to-day management of the Company, as well as developing long term strategy. Notwithstanding its minority shareholder’s position, Polkomtel S.A. is going to play a pro-active role supporting the Comapny’s further dynamic development and will be entitled to nominate 2 out of 5 members of Liberty’s management board,.
With almost 150 POS and a very experienced and efficient sales network, Liberty has been continiously regarded as one of the most successful partners within Polkomtel’s exclusive distribution chain. The acquisition of Liberty will significantly strengthen and secure Polkomtel’s distribution network.
The transaction was completed on the 16th of July.
FIDEA acted as financial advisor to Polkomtel in the acquisition of Liberty, responsible for the entire negotiation process.