Neqsol Holding has completed the acquisition of Vodafone Ukraine, having secured funding provided by a group of international funds and financial institutions led by J.P. Morgan Securities Plc and Raiffeisen Bank International.
Earlier, it signed a binding agreement by its controlled company with MTS. Under it, the latter’s wholly owned subsidiary Allegretto sold its 100% stake in its Dutch subsidiary Preludium, the sole shareholder of VF Ukraine, for $734 million in cash, including an $84 million earn-out payment. J.P. Morgan Securities Plc acted as a financial advisor to Bakcell a Neqsol Holding group company.
Commenting on transaction, Nasib Hasanov, founder and sole owner of Neqsol Holding group of companies, said: “With the acquisition of one of the most successful companies in Ukraine, we pursue our strategy of international expansion. I would like to thank all the involved parties contributed to making this deal possible. As a strategic investor we have a long-term vision and will contribute to further development of the company”.
Yusif Jabbarov, CEO of Neqsol Holding, added: “Considering international experience and achievements of Neqsol Holding operating across countries and industries, our strong commitment and adherence to the highest international financial and compliance standards, we were able to raise substantial amount of funding from reputable international financial institutions. We have successfully finalised the acquisition of Vodafone Ukraine, one of the most successful companies and the second largest telecommunications company in Ukraine. This is the next significant milestone in our strategy of international expansion and entering new markets. The deal was closed in record time thanks to intensive and collaborative work of the team with our highly reputable finance arrangers and advisors such as JP Morgan, Raiffeisen Bank International, DLA Piper, Linklaters, Deloitte, PWC, and Detecon. According to our strategy, we will invest in implementation of cutting-edge technologies and innovations in the Ukrainian telecommunication market”.
Puja Turner, head of CEEMEA Loan Finance, at J.P. Morgan Securities, said: “We are pleased to be engaged in this landmark acquisition in Ukraine, which has brought significant foreign investment into the regional telecom sector.”
Neqsol says that the change of ownership will not affect Vodafone Ukraine’s operations. The company will continue providing services under the Vodafone brand and deliver on all its commitments to its employees, partners and clients.
As previously reported by Broadband TV News, the transaction received the approval of the Antimonopoly Committee of Ukraine (AMKU) in late October,
