VTB Capital announced today the purchase of minority shares in the largest Russian satellite TV operator, National Satellite Company, operating under the brand Tricolor TV. As a global investment bank and financial investor, VTB Capital will help Tricolor TV to boost the value of their asset and prepare an Initial Public Offer plan in due time.
Global Head of Private Equity and Special Situations of VTB, Tim Demchenko notes, "The investment in Tricolor TV is one more step in implementing VTB Capital's private equity strategy to invest in consumer-related industries in Russia. We believe its strong market position and countrywide footprint will enable the company to capitalize on opportunities in rapidly growing Russian pay-TV market and successfully complete IPO in the next few years".
Tricolor TV is the market leader in the pay TV market in Russia. In Europe, the company is one of the biggest pay TV providers. As of March 25, 2013, Tricolor TV is reported to have a registered subscriber base of 12.4 million which includes 9.12 million as paying subscribers.
"Partnership with VTB Group is a strategic step which will allow the Company to get prepared for the next level of Company's development," according to CEO of National Satellite Company, Alexander Makarov.
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