Baltcom ownership changes

January 7, 2014 08.11 Europe/London By Chris Dziadul

BaltcomLatvia’s leading cable operator Baltcom has seen a change in its ownership structure, with Rpax One S.A. now holding 99.6% stake in the company.

According to DB, this follows the private investment group Ardian, formerly known as AXA Private Equity, and the CEE private equity investor Resource Partners buying out the minority 29.6% share formerly held by Mackonar Impex Limited.

Ardian and Resource Partners first bought into in Baltcom in May 2011.

They also have investments in telco companies elsewhere in the Baltic Republics, as well as in France, Poland, Bulgaria, Scandinavia and other markets.

Baltcom acquired Izzi, Latvia’s second largest cableco, in September 2013, though the two continue to operate as separate legal entities.