LONDON – Global law firm Dechert LLP advised Magyar Telecom B.V. (“Matel BV”) on the sale of its holding in the Invitel Group toto the China CEE Investment Co-operation Fund (whose investment adviser is CEE Equity Partners). The Invitel group is a leading Hungarian infrastructure-based telco and IT service provider. The Proposed Sale values the Invitel Group at an enterprise value of €202 million, and is subject to shareholder and Hungarian competition authority approval. Matel BV is 51% owned by Mid Europa Partners and the remaining shares are indirectly owned by the holders of Matel BV’s senior secured notes.

The Dechert team was led by London-based partner Ross Allardice. Allardice said “We are delighted to be supporting the sellers on another important transaction in the CEE region, and to display Dechert’s ability to advise private equity firms and institutional clients on transactions throughout the CEE region.”

Mark Nelson-Smith, Chairman of Matel BV, said, “The team at Dechert delivered high quality support and helped ensure a successful signing of this important transaction.”

Nikolaus Bethlen, partner at Mid Europa Partners said, “The team at Dechert have played a central role in the execution of this transaction, and have shown again their strong ability to advise on complex cross-border transactions.”

The Dechert team on the transaction included debt partner John Markland, together with associates James Stonehill, Andrew Papworth, Amy Rees, Deepa Parmar and Kenny McLeod.