Nytex

Mid Europa sells Invitel to Chinese-backed fund 

Private equity group Mid Europa Partners announced on its website on Friday that it has agreed to sell its controlling stake in Hungarian telco Invitel to CEE Equity Partners, the investment advisor to the China CEE Investment Co-operation Fund. The transaction is subject to customary closing conditions, including local competition authority clearance, and is expected to complete in the first quarter of 2017. A separate press release from Invitel’s Netherlands-registered, London-headquartered holding company Matel stated that the proposed sale values Invitel at an enterprise value of EUR202 million (USD215 million), or 4.5 times its 2015 EBITDA.

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