We very much look forward to the next phase of development of the company under the ownership of Alinda, a global investor with a great record of investment in infrastructure assets.Terms of the transaction have not been disclosed but several sources indicated that the asset could fetch around 10-12 times EBITDA of between €65-70 million bringing the asset a value of approximately €840 million ($1.1 billion).Chris Beale, Alinda's Managing Partner, said:
We have been impressed by Emitel's growth and results to date and are excited by the prospects for further growth. We look forward to working with Emitel's management team to support their ongoing development of the company.
Emitel broadcasts television and radio signals nationwide under long-term contracts with television and radio channels, including the government-owned TV and radio channels. Emitel is the sole broadcaster of digital terrestrial television signals in Poland, and is leading the introduction of digital radio. The company owns 377 towers in Poland.
Goldman Sachs International acted as exclusive financial advisor to the owners of Emitel on this transaction. Weil Gotshal & Manges acted as legal advisor and PwC, Arthur D. Little and Solon Management Consulting supported the vendor due diligence process.