United Group Dismisses Fears of 'Change' After Buyout

United Group's General Counsel, Steve Leroy, said nothing would change after the private equity firm BC Partners this week acquired a majority stake in the largest alternative pay-TV company in former Yugoslavia.

"The future plans for the companies within the group, including the N1 news network, will not change," Leroy told BIRN.

BC Partners is taking a majority ownership of Serbia's largest cable company from the US-based equity firm, KKR, which will downgrade to minority owner, BC Partners and KKR announced jointly on Thursday.

United Group is the largest cable company in Serbia and operates also in Bosnia, Montenegro and Slovenia.

It counts among its assets SBB, Telemach, Total TV, Sport Klub and the regional media outlet N1 TV, which broadcasts from Serbia, Croatia and Bosnia and is known for its professionalism.

Leroy said that KKR will retain a substantial minority stake after the acquisition and called the deal "excellent news".

"It means that another outstanding international investor will help United Group further invest in a convergent telecommunications network and high quality content that local viewers appreciate. It also means that KKR remains very committed to United Group and ensures continuity," Leroy explained.

Finally, he added, it was a vote of confidence in the region for other investors.

The joint BC Partners and KKR press release on Thursday said the financial terms of the transaction were not disclosed, and the transaction remains subject to relevant regulatory approvals.

BC Partners is an international investment firm with over 18 billion euros of assets under management in private equity and private credit. It was established in 1986 and has offices in North...