Zubr Capital
22 december 2016

Zubr Capital made an exit from Atlant Telecom

Investment Company Zubt Capital and European Bank of Reconstruction and Development (EBRD) made an exit deal from portfolio company – telecommunication company Atlant Telecom. Holding Telekom Austria Group has become new owner of Atlant Telecom.   

Negotiations with strategic investor were held during 2016. As a result of negotiations, Telekom Austria Group acquired 100% of shares in statutory fund of Belarusian provider Atlant Telecom and its affiliated company Teleset.   

Since 2011 EBRD and Zubr Capital held the course for progressive growth of the company with the following selling to strategic investor. Atlant Telecom became the private provider N 1 in Belarus. For today subscriber base of Atlant Telecom exceeds  126 thousand of customers of fixed lines and 46 thousand of customers of cable TV. In 2015, company got approximately16 million EUR of operating revenue and over 4 mln EUR EBITDA. Atlant Telecom was not a leverage company and developed due to direct investments. The fast development is the result of successful symbiosis of top management of two companies: Atlant Telecom and Zubr Capital. 

Oleg Khusaenov, director of Zubr Capital, says:

The exit from Atlant Telecom is a milestone event for telecommunication market of Belarus. Atlant Telecom is an outstanding example how direct investments develop not only the company but also the market in general. Telekom Austria Group focused on executing strategy of convergence and mobile operator velcom together with internet provider Atlant Telecom will implement that strategy in Belarussian telecom market.

It is worth noting that for the last two years team of Zubr Capital shows positive track records in exits from portfolio companies, evidencing that Belarusian market is ready to such finance instrument as private equity.

Zubr Capital was the majority shareholder of Atlant Telecom with share of  65%, so Zubr Capital played the leading role in negotiations with Telecom Austria Group. EBRD considers this transaction as one of the most successful exit on local IT market. 

Worth to mention that this is the second major and landmark exit transaction of Zubr Capital for the last two years. MTBank was the first exit in 2015.