Eversheds Saladzius represented SM VII B.V., a company incorporated under the laws of the Netherlands, intending to acquire 100% of shares in the Estonian company AS Starman from the current shareholders Baltic Cable Holding OU, Com Holding OU and Polaris Invest OU by respectively acquiring sole control of the target company. We are representing the client during the acquisition process and have drafted the notification to Competition Council requesting for competition clearance for the proposed acquisition.

SM VII B.V. belongs to a group of affiliated entities managed by Providence Equity, a private equity investor in the media and communications sectors globally. SM VII B.V. has been established as a special purpose vehicle for the purposes of acquisition of shares in AS Starman.

Providence Equity is active in the telecoms sector in Lithuania through its controlled company UAB Bite Lietuva, and where other (i.e. through UAB Bite Lietuva) affiliated entities UAB Spainetos prekybos Sistema, UAB EUROCOM as well as UAB TeleTower are also active in Lithuania.

AS Starman is a cable network operator based in Estonia. Starman operates in the Lithuanian market under Cgates brand (hereinafter referred to as "AS Starman" or "Cgates" as the context requires) through UAB Cgates Group and its wholly owned subsidiaries UAB Cgates, UAB ALPHA KOMUNIKACIJOS, UAB KAPSULE, UAB Dinetas, UAB KAVAMEDIA and Kava UAB, which are active in Lithuania. The undertaking, which is being acquired, belongs to a group of affiliated entities consisting of private equity fund and private individuals being widely known as the East Capital Explorer group that have various other business activities in Lithuania and other countries.