AIG Global Investment Group has acquired a 65% stake in Bulgarian Telecommunications Company for EUR 1.08bn from Viva Ventures GmbH. The former state-owned telecommunications company is currently listed on the Bulgarian Stock Exchange and AIG acquired the 65% stake for EUR 5.75 per share. Following the completion of the transaction and in compliance with Bulgarian legislation, the financial investor will launch a tender offer for the remaining shares.
Deal is part of a buy-and-build strategy pursued by the GP to strengthen Italcanditi's market position
Tavola already owns Frische und Service's Swiss market peer Ceposa, which it acquired in 2018
Company has raised $9m in total at the series-A stage, from new and existing investors
Existing investors, including Three Hills Capital Partners, will retain a minority share