Providence Equity Partners agrees to acquire MTG's Baltic TV and radio business
MTG has signed an agreement to sell its free-TV, pay-TV, digital and radio businesses in the Baltic region to Providence Equity Partners, a premier global asset management firm that is the owner of Bitė, the Lithuanian and Latvian mobile operator.
The business includes, inter alia, three TV-channels in Estonia (TV3, TV3+ and TV6), five TV-channels in Latvia (TV3, TV3+, TV6, Kanāls 2 and LNT), three TV-channels in Lithuania (TV3, TV6 and TV8) and certain leading Baltic premium pay-TV channels within sports and entertainment.
The transaction values the business at an enterprise value of mEUR 115. The transaction is subject to regulatory approvals.
Providence was advised by Mannheimer Swartling in the transaction.