EBRD helps finance euro 52 million purchase of cable operators

The European Bank for Reconstruction and Development (EBRD) said on Tuesday that it plans to arrange a euro 52.5 million loan to help finance the purchase of Polish cable TV assets by private equity funds. Three private funds - Hicks, Muse, Tate & Furst; Emerging Markets Partnership; and Argus Capital Partners - in November signed a deal to buy the cable assets held by a venture between Vivendi and Elektrim for euro 110 million. EBRD said it would provide euro 22.5 million of the loan and help arrange the remainder with two unnamed commercial lenders. EBRD also said in a statement that the new owners of the television assets would "Develop the business by improving the cable TV offer and upgrade the network in order to ease access to broadband Internet connections." The cable TV operators include Aster City Cable and Warszawskie Sieci Kablowe in Warsaw, Autocom and RTK Autocom in Krakow and ZTK in Zielona Gora. (Reuters) A.K.