Invitel Holdings, a Hungarian telecoms provider which offers services through its subsidiaries Invitel Tavkozlesi, Invitel Technocom, Invitel International and Invitel Telecom, has announced a change in its ownership structure and a de-leveraging of the cash-pay debt of Invitel and its subsidiaries. Under the plan, Mid Europa Partners Limited will become the controlling shareholder of Invitel, acquiring TDC of Denmark’s 10,799,782 Invitel shares (equivalent to 64.6% of the outstanding shares), for USD1.00 per share. The acquisition is subject to certain conditions precedent, including the approval from relevant regulatory authorities. In connection with the transactions, Invitel says that Mid Europa will purchase all of TDC’s rights and obligations under a EUR34.1 million (USD49.7 million) subordinated shareholder loan, which will be amended and restated to increase the loan by an amount of up to EUR91.4 million. The additional funds will be principally used by the Invitel Group to fund the purchase or repayment of a portion of the Invitel Group’s outstanding debt.