Mid Europa Reaches EUR665 Million First Close on Fund IV, Sells Stake in T-Mobile Czech Republic for EUR828 Million (CEE and CIS)

Source: Mid Europa Partners, Private Equity News  |  Author: Alec Macfarlane

CEE and CIS-focused buyout investor Mid Europa Partners has reached a first close on Mid Europa Fund IV with EUR665 million (approximately US$906.6 million) in capital commitments. Investors include sovereign wealth funds GIC and China Investment Corporation and fund of funds managers HarbourVest Partners, Pantheon and AlpInvest Partners. Separately, Falcon Group, a consortium of investors 75 percent-controlled by funds managed or advised by Mid Europa Partners, has entered into a binding agreement to sell its entire 39.2 percent stake in Czech Republic-based mobile communications provider T-Mobile Czech Republic (TMCZ) to telecommunications company Deutsche Telekom for a total consideration of EUR828 million (approximately US$1.1 billion). Mid Europa Partners originally invested in TMCZ in 2006. The transaction is expected to close by the end of February.