United Group Sells Eon TV International and SBB Belgrade
Deal News | Feb 19, 2025 | CEE Legal Matters
Gecic Law, Clifford Chance, Kinstellar, Sullivan & Cromwell, Schoenherr, and Kirkland & Ellis have all played instrumental roles in advising on a significant transaction where United Group is set to sell Eon TV International to Telekom Srbija and SBB Belgrade to e& PPF Telecom Group. This EUR 1.5 billion deal, contingent on regulatory approval, highlights strategic shifts within the telecom and broadcasting sectors in Serbia. The transaction enables e& PPF Telecom Group to merge SBB with its mobile operator Yettel, which is expected to enhance client services in Serbia. United Group will retain its critical media operations in Serbia, ensuring continuity in its media outreach and footprint.
Sectors
- Telecommunications
- Media Broadcasting
Geography
- Serbia – The transaction centers around the Serbian companies and market, significantly impacting the local telecom and broadcasting sectors.
- Western Balkans – The sale of Eon TV International includes assets and operations that span the Western Balkans.
Industry
- Telecommunications – The transaction involves the sale of TV and telecom services, emphasizing activity in the telecommunications industry.
- Media Broadcasting – The transaction includes the sale of media broadcasting services, including sports broadcasting rights.
Financials
- EUR 1.5 Billion – The combined enterprise value of the transactions between United Group, Telekom Srbija, and e& PPF Telecom Group.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| United Group | Selling Company | Company | Vendor of Eon TV International and SBB Belgrade in this transaction. |
| Telekom Srbija | Bidding Company/Buyer | Company | Purchaser of Eon TV International. |
| e& PPF Telecom Group | Bidding Company/Buyer | Company | Purchaser of SBB Belgrade. |
| Gecic Law | Legal Advisor | Company | Advised Telekom Srbija on the acquisition. |
| Kinstellar | Legal Advisor | Company | Advised e& PPF Telecom Group. |
| Schoenherr | Legal Advisor | Company | Advised United Group. |
| Clifford Chance | Legal Advisor | Company | Worked with Gecic Law on advising Telekom Srbija. |
| Sullivan & Cromwell | Legal Advisor | Company | Worked with Kinstellar on advising e& PPF Telecom Group. |
| Kirkland & Ellis | Legal Advisor | Company | Worked with Schoenherr on advising United Group. |