Apax Partners' Funds And Texas Pacific Group Acquire Q-Telecom For EUR 350 Million

An acquisition company owned by private equity funds advised by Texas Pacific Group (TPG) and Apax Partners signed a conditional acquisition agreement with Info Quest S.A. for the acquisition of its telecommunication business operated under the trademark Q Telecom, the

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An acquisition company owned by private equity funds advised by Texas Pacific Group (TPG) and Apax Partners signed a conditional acquisition agreement with Info-Quest S.A. for the acquisition of its telecommunication business operated under the trademark Q-Telecom, the fourth Greek wireless operator.

The acquisition of the 100% stake of the company that will own the business, will be for a cash consideration of EUR 325 million and the assumption of existing indebtedness of EUR 25 million. The acquisition agreement is conditional upon, among other things, obtaining approval from the relevant regulatory and competition authorities.

Philippe Costeletos, partner of Texas Pacific Group, said: “We are delighted to have the opportunity to work with this excellent management team led by Mr. Prigipakis. We remain committed to providing management with the resources necessary to invest in infrastructure, provide innovative products and services to customers, and continue to grow the business. We believe our investment in this growing and successful mobile telephony operator represents an exciting opportunity for Texas Pacific Group and Q-Telecom’s management and employees. This investment confirms Texas Pacific Group’s continued interest and commitment to investing in Greece and highlights our confidence in the Greek economy and the significant potential for investment in the Greek market.”

Giancarlo Aliberti of Apax said, “Apax is pleased to back Mr. Prigipakis and his high quality team at this exciting time in Q-Telecom’s development. This is a great opportunity for Apax Partners to use its expertise gained from years of investing successfully in the telecoms industry to work with Q-Telecom and help the company realise its growth potential. We are also excited about increasing Apax Funds’ investments in the promising Greek market. We look forward to investing in Q-Telecom’s future and building on its strengths.”

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