$65 million mortgage to Ukraine’s Datagroup to spur development | Information

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KYIV, Ukraine, April 19, 2021 /PRNewswire/ — Datagroup, a number one nationwide fibre infrastructure and digital companies supplier in Ukraine, is buying Volia, the nation’s main pay-TV and cable broadband service supplier within the retail phase, with the monetary backing of the European Financial institution for Reconstruction and Growth (EBRD).

The EBRD is offering a neighborhood forex mortgage equal to $65 million to Datagroup, which is majority owned by a fund managed by Horizon Capital. This can primarily finance the acquisition of Volia to assist construct a stronger, extra aggressive telecommunications operator with improved high quality of service and an expanded product vary.

Matteo Patrone, EBRD Managing Director, Japanese Europe and the Caucasus, mentioned: “On the EBRD we consider within the energy of expertise to result in change for the higher. Ukraine’s rising digitalisation requires large-scale investments to broaden protection, speed up pace and enhance high quality. Quickly Ukrainian shoppers will reap the advantages of Datagroup and Volia becoming a member of forces. The merged entity will put money into higher infrastructure, innovation and glorious customer support, making it simpler for all to attach with one another.”

Lenna Koszarny, Horizon Capital’s Founding Associate and Chief Government Officer, added “We’re delighted that the EBRD is backing our imaginative and prescient of bringing Datagroup and Volia collectively. This merger will create a platform of adequate scale to draw substantial capital investments to modernise Ukraine’s last-mile and nationwide fibre infrastructure. The EBRD is a valued associate of Horizon Capital and its portfolio firms, offering growth loans to extend manufacturing capability, acquisition financing to develop companies and fund commitments to draw non-public capital to the area. The success of Datagroup and Volia will serve to advertise Ukraine’s funding attractiveness and finally convey extra international direct funding to the nation.”

Mikhail Shelemba, Datagroup Chief Government Officer and shareholder, said: “We’re delighted to announce our cooperation with the EBRD ensuing within the provision of $65million in financing. These funds might be invested within the enterprise to assist development and growth – the acquisition of Volia in addition to full-scale community modernisation. This financing helps our growth plans, guaranteeing our community is essentially the most fashionable within the Ukrainian telecommunications market, bringing high quality of companies to a complete new degree and guaranteeing we surpass buyer expectations as their dependable associate. We consider that is just the start of a long-term collaboration with the EBRD and sit up for many alternatives and large-scale tasks forward.”

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SOURCE Datagroup

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