Together with Ardian we increased our commitment to Baltkom
Together with Ardian, an independent private investor, we increased our joint investment in Baltkom TV, Latvia’s largest cable television operator, by completing the buyout of a minority shareholder. This transaction strengthens our strategic partnership, having initially invested in Baltkom in May 2011.
Baltkom TV was established in 1991. It is one of the leading telecommunication companies in Latvia, offering analogue and interactive digital TV, high-speed internet and fixed line telephone services and, since August 2013, electric energy retail distribution for households.
Together with Ardianwe have an unparalleled experience in investing in telecommunication companies in such countries as France, Poland, the Baltic States, Bulgaria, Scandinavia and other international markets.
MartonHunek, Director of Ardian, said: “This additional investment is another example that we are continuing our long-term commitment to Baltkom and its management team. We look forward to working with the company as it continues to grow organically and through M&A transactions in the fast-growing Latvian economy.”
Piotr Noceń, Managing Partner of Resource Partners, said: “We were impressed with the pace of Baltkom’s growth and therefore decided to increase our stake in the company. We strongly believe in Baltkom’sprospects and its ability to consolidate the Latvian market.”
In accordance with an earlier agreement, we bought additional shares from the minority shareholders and increased our stake in Golpasz S.A. from 67 per cent to 85 per cent. We have been an investor in Golpasz S.A. since December 2015.
Kent Orrgren, CEO at World Class, performed at the European Health and Fitness Forum in Cologne. The 5th annual event brought together top experts from different sectors of the industry and over 400 delegates from 34 countries to discuss human capital in the European fitness sector.