VTB has closed the deal for the sale of Vivacom



VTB 30 August 2016 closed the sale of 100% of the shares InterV Luxembourg holding company Bulgarian Telecommunications Company EAD (BTC). This is stated in the message group.

The company was acquired by Viva Telecom consortium, consisting of the Saviour of Russia, minority shareholders and VTB. InterV shares were collateral for a loan of 150 million euros with maturity in may 2015, which was issued to former owners of BTC, and have been implemented as a result of default on the loan.

The sale of the shares InterV was carried out in an open auction on a competitive basis, in which participated a number of international institutional investors. 20, 2015 Viva Telecom was declared the winner of the auction organized by E&Y in London. The final cost of applications amounted to 330 million euros, which significantly exceeded the starting price of 180 million euros. After the closing of the transaction owned Bank subsidiary became the owner of 20% minus one share in the consortium.

VTB group has given the Viva Telecom consortium credit in the amount of 240 million euros for the partial financing of the transaction.

The transaction has received approval from the Bulgarian Commission on protection of competition. BTC has also secured the consent of more than 87% of holders of Eurobonds of Vivacom in the amount of 400 million euros on the change of ownership of the company InterV.




VTB has closed the deal for the sale of Vivacom 31.08.2016

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