VTB Capital acquires a minority stake in Tricolor TV

VTB Capital announced the acquisition of a minority stake in National Satellite Company, CJSC (Tricolor TV trade mark), the largest provider of satellite TV in Russia.

Given the company's subscriber base as at the 25th of March, 2013 (more than 12.4M registered users, including 9.12M paying subscribers), Tricolor TV is the leader in the Russian pay TV market and one of the largest companies in the pay TV market in Europe.

VTB Capital, as a global investment bank and investor in this transaction, will boost the capitalization of Tricolor TV assets, and assist the company in preparations for the IPO in a few years.

Tim Demchenko, the Head of Private Equity and Special Projects Department of VTB Capital, says: The investment in Tricolor TV is another step in the strategy of VTB Capital’s direct investment in Russia's goods sector and consumer services. We believe that strong market positions and broad audience reach of Tricolor TV will help the company to take advantage of the Russian pay TV market growth and conduct the IPO in a few years.

Alexander Makarov, the Director General of Tricolor TV, says: The partnership with VTB Group is a strategic step, which will help Tricolor TV to prepare for a new level of development.