KYIV. June 30 (Interfax-Ukraine) – Turkish-based Turkcell telecoms operator has announced it has signed a share purchase agreement (SPA) to acquire SCM Holdings Limited’s 44.96% stake in its Dutch-based subsidiary Euroasia Telecommunications Holding BV, in which Turkcell currently owns 55.04% stake and which in turn owns 100% of LLC Astelit, operating under the brand “life:)” in the Ukrainian mobile market.
As Turkcell said on the Borse Istanbul on Friday, SCM’s 44.96% stake will be acquired for $100 million. The total consideration amount will be paid on the closing date.
Conditions as per the SPA include the payment of $100 million as the consideration amount of the acquisition of SCM shares; payment of Astelit’s debts obtained through and with guarantee of SCM Group, termination of all guarantee agreements to which SCM Group is party; and release of SCM Group in this regard.
As was reported, on June 18, Turkcell announced a decision taken by its Board of Directors to start talks on the purchase of the stake in Astelit from SCM.
