CMS Cameron McKenna has advised a consortium led by Bancroft Private Equity on its sale to East Capital Explorer of a majority stake in Starman, a cable TV, broadband internet and voice cable services provider in Estonia.
East Capital Explorer will acquire 67.72 per cent stake in the company, with the remaining stake being held by Starman’s founders.
The transaction, which was led by Graham Conlon and Anela Musat, members of the firm’s international private equity team, is subject to approval from the Estonian competition authorities. It is expected that completion will occur during the second quarter of 2013.
Conlon says: "This was a high profile transaction in Estonia (and the region more generally) which further cements our reputation and market-leading private equity practice in Central and Eastern Europe and beyond."
CMS Cameron McKenna acted as international counsel on the transaction, with Raidla Lejins & Norcous acting on an all Estonian-law aspects.
