Gala Fund Management acquires Neo-Sky

Gala Fund Management has purchased broadband telecommunications operator Neo-Sky from electric utilities company Iberdrola for €70m.

The company, which achieved an EBITDA of €12m in 2009, holds assets worth €40m.

Gala now owns a 98.9% stake in Neo-Sky, which supplies businesses with internet, data and phone services.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Susannah Birkwood on +44 20 7004 7524 or susannah.birkwood@incisivemedia.com

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