ER-Telecom’s Enforta takeover cleared

13 Jan 2016

Russia’s Federal Antimonopoly Service (FAS) has approved ER-Telecom’s acquisition of 100% of Prestige Internet (Enforta) in a decision issued at the end of December 2015, reports finanz.ru citing news agency TASS. Cableco ER-Telecom, Russia’s second-largest broadband internet provider by subscribers, was revealed in October to be in talks to buy B2B fixed-wireless broadband operator Enforta. Reportedly the existing owners of Enforta could receive ‘up to 7%’ shares in ER-Telecom as a result of the deal although the exact size of the stake will be determined via due diligence. Enforta – with 2014 revenues of RUB3.1 billion (USD42 million) – is owned by funds led by Baring Vostok Capital Partners (BVCP, 35.5%), UFG Private Equity Fund II (18.3%), Sumitomo Corp (15%), Bessemer Venture Partners (10.3%), EBRD Bank (6.5%) and management (14.6%).

Russia, Enforta (now part of ER-Telecom), ER-Telecom (Dom.ru)