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Eversheds Saladzius Advises SM VII B.V. on Acquisition of AS Starman

Eversheds Saladzius Advises SM VII B.V. on Acquisition of AS Starman

Estonia
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Eversheds Saladzius is representing SM VII B.V., a company incorporated under the laws of the Netherlands, on its acquisition of 100% of the shares in the Estonian company AS Starman from shareholders Baltic Cable Holding OU, Com Holding OU, and Polaris Invest OU. The firm represented SM VII during the acquisition process and have drafted the notification to Competition Council requesting for competition clearance for the proposed acquisition.

AS Starman is a cable network operator based in Estonia. Starman operates in the Lithuanian market under the Cgates brand through UAB Cgates Group and its wholly owned subsidiaries UAB Cgates, UAB Alpha Komunikacijos, UAB Kapsule, UAB Dinetas, UAB Kavamedia, and Kava UAB. AS Starman belongs to a group of affiliated entities consisting of a private equity fund and private individuals widely known as the East Capital Explorer group. 

SM VII belongs to a group of affiliated entities managed by Providence Equity, a private equity investor in the media and communications sectors globally.  SM VII was established as a special purpose vehicle for the purposes of acquisition of shares in AS Starman. Providence Equity is active in the telecoms sector in Lithuania through its controlled company UAB Bite Lietuva.

Eversheds Saladzius informed CEE Legal Matters that it was unable to provide information about counsel for the sellers. 

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