SCM acquiring 92.79% stake in Ukrtelecom from Austria's EPIC

11:51, 05.06.2013 1 min read

The SCM Group and EPIC Group on June 3, 2013 signed an agreement on the sale and purchase of a 100% stake in UA Тelecominvest Limited (Cyprus), which holds a 100% stake in ESU LLC (Ukraine), which in turn holds a 92.79% stake in public joint-stock company Ukrtelecom, the largest player on the Ukrainian fixed communications market and the operator of the 3G mobile communications network.

"The SCM Group will become the owner of UA Telecominvest Limited and will receive control over a 92.79% stake in public joint-stock company Ukrtelecom, after obtaining all the required permits, including ones from the antimonopoly agencies," reads a joint report of the companies issued on Wednesday.

SCM Advisors (UK) Limited, the subsidiary of SCM in Britain, and EAL, EMC and EFC, the consultation division of EPIC for mergers and acquisitions, acted as advisors in the deal.

Other details of the deal are not disclosed.