Three Romanian enterpreneurs made nearly €50 million from the sale of the Serbian cable operator IKOM to the private equity fund KKR last year.
In an analysis on the transaction, Ziarul Financiar reports that Belgrade-based IKOM was established by five Serbian shareholders in the early 2000s. When sold to KKR, via Serbia Broadband (SBB), it was controlled by Mihai Sotropa, Nicolae Gavra and Marcel Martin and the second largest cable opertor in Belgrade, with some 100,000 subscribers.
Quoting Sotropa, when speaking last year, it adds that IKOM was formed with funds he obatined from the sale of a cable network in the Botosani region of Romania to UPC.
The sale of IKOM was announced last year and received the approval of the Serbian competition authority three months ago. The fee of €50 million will be paid over a five-year period.
