EBRD MAY MAKE EUR22.3M EQUITY INVESTMENT IN OISIW LIMITED TO DEVELOP UKRAINIAN TELECOMS, MEDIA Co-investment vehicle managed by SigmaBleyzer Southeast European Fund IV
Interfax Ukraine, Kyiv, Ukraine, Tuesday, August 14, 2007

KYIV - The European Bank for Reconstruction and Development (EBRD) may make a EUR22.3-million equity investment in Cyprus-based Oisiw Limited, a special purpose co-investment vehicle to invest alongside and be managed by SigmaBleyzer Southeast European Fund IV (SBF IV), to improve telecoms and media infrastructure in Ukraine.

As EBRD reported on Tuesday, the total project cost is up to EUR 200 million. EBRD's equity investment will be made alongside with other equity co-investors and limited partners associated with SigmaBleyzer Southeast European Fund IV.

The project focuses on private sector development in the telecoms and media industry sector, increasing competition, efficiency and delivery of service.

An improved product offering and lower prices will be provided for improved electronic communications in the regions.

As was reported earlier, SigmaBleyzer, a leading private equity firm focused on Ukraine and Southeastern Europe, in February 2007 closed its fourth fund, SigmaBleyzer Southeast European Fund IV (SBF IV).

The fund was closed at EUR 250 million ($326 million), the maximum amount allowed by the partnership agreement, and 25% above its target.

A total of 40 partners invested in the new fund, with investments ranging from a few million euros to 20% of the fund, provided by the largest partner in SBF IV, the European Bank for Reconstruction and Development.

Other investors in the fund include Goldman Sachs, UBS, LVMH, Bank Austria, InvestKredit and other large financial institutions and family offices.

SBF IV announced plans to make investments of EUR 10-70 million, with larger investments possible through a series of co-investment agreements with its partners.

SigmaBleyzer created the first Ukrainian Growth Fund (UGF) in 1996. Since that time, UGF has grown into a family of three funds consisting of UGF I, UGF II, and UGF III. SigmaBleyzer runs offices in Bulgaria, Romania, Ukraine, the Netherlands, [Kazakhstan] and the United States.

Among SigmaBleyzer's Ukrainian projects is the country's largest cable TV operator - Kyiv-based CJSC Volia-Cable.