CEE - AIG acquires 90% stake in BTC

In May AIG signed an agreement with incumbent backers Novator and Viva Ventures (a private equity consortium led by Advent International) to acquire a 65% stake in the target for EUR 1.08bn. The deal valued the equity of BTC at EUR1.66bn.

The Advent-led consortium acquired BTC in a privatisation in 2004 following two years of political wrangling with the government. In January 2006 the agreed with Novator an option to acquire the 65% stake from Viva.

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