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AXA Private Equity and Resource Partners in joint investment for SIA Baltkom TV

AXA Private Equity and Polish private equity adviser Resource Partners have together acquired a majority stake in SIA Baltkom TV (Baltkom), Latvia’s largest cable television operator. This transaction represents the first joint investment by AXA Private Equity and Resource Partners, who entered into a strategic partnership in May 2010.

Baltkom is the largest Latvian cable television operator, offering pay-TV, internet and telephony services in Riga and in other Latvian cities. It provides a range of bundled offers and services over its hybrid fibre-coax (HFC) and next-generation fibre optic IP networks. It will continue to roll out its fibre technology to enhance the connection speed of its customers and provide high-speed internet and advanced IP-services throughout its network.
Both AXA Private Equity and Resource Partners have considerable experience in investing in telecommunication and cable television companies, collectively in France, Poland, the Baltic States, Bulgaria, Scandinavia and in other international markets.
Thomas Wilfling (pictured), Managing Director of AXA Private Equity, Central and Eastern Europe, says: “This transaction is representative of the significant investment opportunities we are seeing in the region, particularly in technology assets.  Using the resources, sector experience and networks of both AXA Private Equity and Resource Partners, we look forward to supporting the management team in its growth strategy for Baltkom.”
Peteris Smidre, who will remain the CEO of Baltkom, says: “We are delighted that AXA Private Equity and Resource Partners have chosen to invest in Baltkom. Their commitment will enable us to strengthen our position by way of enhancing our network, introducing new services for our customers and by selective acquisitions as we continue to grow”.
Piotr Noceń, Managing Partner of Resource Partners, says; “We have analysed the Baltic CATV market for a long time and decided to acquire a significant stake in Baltkom, as the Company’s expansion potential impressed us. We strongly believe in the Company’s further growth and its consolidation potential in Latvia.”
The transaction is not subject to any further approvals.

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