CEE - Mid Europa acquires 64.6% of Invitel; de-leverages company

As part of the transaction, Mid Europa will provide funding to de-leverage the company's debt by buying back EUR85m of Invitel's senior loans, as well as by purchasing the business's outstanding EUR125m PIK notes.

Invitel Holdings is the second-largest fixed line telecommunications and broadband internet service provider in the republic of Hungary with more than one million customers in the country.

Credit Suisse and Lazard acted as joint financial advisers on the deal. The series of transactions are interconditional and the acquisition of TDC's stake is still subject to regulatory approval.

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