East Capital Explorer publ AB: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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East Capital Explorer AB Acquires Majority Stake in Starman
East Capital Explorer AB announced that the Company has agreed to acquire a majority stake in Starman, a cable TV, broadband internet and voice cable services provider in Estonia. East Capital Explorer will invest approximately EUR 24 million to acquire 51% of the company based on a total enterprise value of EUR 107 million, and the remaining stake of 49% will be held by Starman's founders, Peeter Kern and Indrek Kuivallik. East Capital Explorer will acquire the shares from the existing owners, a consortium led by Bancroft Private Equity Gmbh & Co. KG. The founders will increase their current equity stakes in Starman by investing an additional EUR 5 million on the same terms as East Capital Explorer. SEB and Swedbank are financing part of the acquisition with an acquisition loan. Starman has approximately 130,000 cable TV and 60,000 broadband clients. Its network is 100% digital and covers cities in Estonia. The company's revenues in 2012 amounted to EUR 28 million and Ebitda was EUR 13 million. The transaction is subject to approval from the Estonian competition authorities, and is expected to be completed during the second quarter of 2013.
Latest Developments for East Capital Explorer publ AB
- East Capital Explorer completes acquisition of Vilnius Business Harbour
- East Capital Explorer AB appoints Lena Krauss as CFO and announces Mia Jurke as CEO
- East Capital Explorer divests holding in East Capital Special Opportunities Fund II
- East Capital Explorer AB Exits Holding in East Capital Bering New Europe Fund
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