Magyar Telecom B.V. Announces Agreement to Sell the Invitel Group to the China-CEE Fund

LONDON–(BUSINESS WIRE)–Magyar Telecom B.V. (“Matel B.V.”) announced today it has agreed the sale (“Proposed Sale”) of its holdings in the Invitel Group to the China CEE Investment Co-operation Fund, advised by CEE Equity Partners. The Proposed Sale, approved unanimously by Matel B.V.’s Board of Directors, is subject to shareholder and Hungarian competition authority approval. The Proposed Sale values the Invitel Group at an enterprise value of €202 million, or 4.5x 2015 EBITDA.