TPG and Apax will acquire Info-Quest's telecommunication business Q-Telecom

October 28, 2005

1 Min Read

LONDON -- An acquisition company owned by private equity funds advised by Texas Pacific Group ["TPG"] and Apax Partners ["Apax"] signed a conditional acquisition agreement today with Info-Quest S.A. ["Info-Quest"] for the acquisition of its telecommunication business operated under the trademark Q-Telecom [the "Business"], the fourth Greek wireless operator.

The acquisition of the 100% stake of the Company that will own the Business, will be for a cash consideration of EUR 325 million and the assumption of existing indebtedness of EUR 25 million. The acquisition agreement is conditional upon, among other things, obtaining approval from the relevant regulatory and competition authorities.

Philippe Costeletos led the deal for Texas Pacific Group. Commenting on the acquisition, Philippe Costeletos, Partner of Texas Pacific Group, said: "We are delighted to have the opportunity to work with this excellent management team led by Mr. Prigipakis. We remain committed to providing management with the resources necessary to invest in infrastructure, provide innovative products and services to customers, and continue to grow the business. We believe our investment in this growing and successful mobile telephony operator represents an exciting opportunity for Texas Pacific Group and Q-Telecom's management and employees. This investment confirms Texas Pacific Group's continued interest and commitment to investing in Greece and highlights our confidence in the Greek economy and the significant potential for investment in the Greek market."

Apax Partners

Texas Pacific Group

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