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Wednesday, 21.05.2025, 05:51
Estonian investors take over control of Lithuania's Cgates
BC, Vilnius, 13.12.2016.
Print version
Print versionLithuania's second-biggest pay TV and Internet services provider Cgates, will be operated by Estonian investors, reports LETA/BNS.
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The company said that Estonian businessman Indrek Kuivallik purchased nearly 63% of shares of Estonian company Starman, Cgates' operator, from investment fund East Capital. Kuivallik is one of Starman's founders who used to be the company's minority shareholder with a 11% stake.
The deal makes Kuvallik's Polaris Invest and Com Holding, which operates 26% of the company's shares, sole shareholders of Starman.
The value of the deal is 208 mln euros, with a loan for the deal provided by Finland's telecommunications company Elisa. The Finnish company will purchase Starman's Estonian branch after sanction from all supervisory bodies. Meanwhile, Cgates will be operated by Polaris Invest and Com Holding.
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