LONDON -- An acquisition company owned byprivate equity funds advised by Texas Pacific Group ("TPG") and Apax Partners("Apax") signed a conditional acquisition agreement today with Info-QuestS.A. ("Info-Quest") for the acquisition of its telecommunication businessoperated under the trademark Q-Telecom (the "Business"), the fourth Greekwireless operator.
The acquisition of the 100% stake of the Company that will own theBusiness, will be for a cash consideration of EUR 325 million and theassumption of existing indebtedness of EUR 25 million. The acquisitionagreement is conditional upon, among other things, obtaining approval fromthe relevant regulatory and competition authorities.
Philippe Costeletos led the deal for Texas Pacific Group. Commenting onthe acquisition, Philippe Costeletos, Partner of Texas Pacific Group, said:"We are delighted to have the opportunity to work with this excellentmanagement team led by Mr. Prigipakis. We remain committed to providingmanagement with the resources necessary to invest in infrastructure, provideinnovative products and services to customers, and continue to grow thebusiness. We believe our investment in this growing and successful mobiletelephony operator represents an exciting opportunity for Texas Pacific Groupand Q-Telecom's management and employees. This investment confirms TexasPacific Group's continued interest and commitment to investing in Greece andhighlights our confidence in the Greek economy and the significant potentialfor investment in the Greek market."
Giancarlo Aliberti led the deal for Apax. He said: "Apax is pleased toback Mr. Prigipakis and his high quality team at this exciting time inQ-Telecom's development. This is a great opportunity for Apax Partners to useits expertise gained from years of investing successfully in the telecomsindustry to work with Q-Telecom and help the company realise its growthpotential. We are also excited about increasing Apax Funds' investments inthe promising Greek market. We look forward to investing in Q-Telecom's future and building on its strengths."
Apax Partners
Texas Pacific Group