United Group Sells Mobile Towers in Bulgaria, Croatia and Slovenia to Tawal from Saudi Arabia for Over EUR 1 Billion

United Group has reached an agreement to sell 100% of its mobile tower infrastructure unit in Bulgaria, Croatia, and Slovenia (“TowerCo”) to Tawal from Saudi Arabia, a subsidiary of stc Group.

The transaction values TowerCo, comprising more than 4,800 towers, at EUR 1,220 million, according to the website of United Group.

Proceeds from the sale will allow United Group to significantly delever the business, freeing up cash flow for future growth, it is added.

– The transaction will enable continued investment in the mobile network including plans to roll out c. 2,000 additional sites over the next 20 years – it is said.

The transaction is the first investment made by Tawal in the European telecoms sector.

United Grupa BROADBAND INVESTMENT S.à r.l.

United Group

Tawal

TowerCo

stc Group

sale of mobile tower infrastructure