21 November – LAWFUEL – The Law News Network – Allen & Overy Bratislava, s.r.o. advised a consortium of 12 private equity investors, led by an affiliate of AIG Capital Partners, on their exit from the Slovak mobile operator, Orange Slovensko, a.s.
The Consortium (led by AIG, and also including London based Emerging Markets Partnership (EMP), the EBRD, Warsaw-based Enterprise Investors and Innova Capital) purchased their 36% stake in Orange Slovensko in 2001 for USD180 million. France Telecom owned the remaining 64%.
Allen & Overy advised the Consortium on the purchase of their stake and continued to advise the Consortium throughout the four years that they remained a shareholder. In relation to the exit, Allen & Overy advised and negotiated the USD628 million sale of the 36% stake to France Telecom.
Hugh Owen, a partner based in Bratislava led the A&O team, supported by Slovak lawyer Ľudmila Borloková.
Commenting, Hugh Owen said: “This transaction has been a terrific result for the Consortium, representing nearly a three and a half times return on their investment. We have been proud to have advised such an esteemed group of private equity investors for over four years on this project. It represents the biggest private equity transaction in Slovakia, and one of the biggest (and most successful) private equity transactions in the whole of Central Europe.”