TGS Baltic, working with Cederquist, has advised Kinnevik on the sale of its entire holding in Tele2 to Freya Investissement for a total of SEK 13 billion.
Kinnevik is a Swedish investment company.
Freya Investissement is an investment vehicle jointly controlled by European telecommunications group Iliad and its chairman and founder Xavier Niel, via NJJ Holding.
Tele2 is a telecommunications company offering mobile and fixed connectivity, telephony, data network services, TV, streaming, and IoT solutions. It is headquartered in Stockholm and has significant operations in Sweden, Russia, Estonia, Latvia, and Lithuania.
According to TGS Baltic, "the Tele2 shareholding will strengthen Iliad/NJJ's current European telecommunications businesses in France, Italy, Poland, Switzerland, Monaco, Ireland, Cyprus, and Malta. This purchase will be completed in three steps, with a first closing of SEK 2.9 billion. The two remaining steps are subject to Iliad/NJJ receiving necessary regulatory clearances, and the third step additionally remains subject to Iliad/NJJ reclassifying Tele2 Class A shares to Class B shares, resulting in Iliad/NJJ holding less than 30% of Tele2's voting interest after the transaction is completed."
The TGS Baltic team included Partners Andra Rubene and Aurimas Pauliukevicius, Associate Partner Triinu Jarviste, and Senior Associates Indre Vickaite-Liatuke, Mari Anne Rohtla, and Mara Stabulniece.
TGS Baltic did not respond to our inquiry on the matter.
