Nils Melngailis (Lattelecom) on financing the MBO

Lattelecom CEO Nils Melngailis describes the financing that has been arranged hitherto for the management/staff buyout. The US based Blackstone Group (private equity) will provide LVL 90 million in equity financing (taking 51 % of Lattelecom) with a four bank consortium (Unicredit, Nordea, DnB and Parex) providing LVL 200 million as a loan (maturity -- around 7 years). Disbursement of a first packet of shares will start in Q1 2008 if all goes smoothly. More in this video:

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