Turkcell announced the sale of Ukrainian assets to French NJJ Capital – Kommersant
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Turkish mobile operator Turkcell announced the decision to transfer its assets in three Ukrainian companies to the French investor NJJ Capital, the Turkish publication reported. BloombergHT. We are talking about three LLCs – Lifecell, Global Bilgi and Ukrtower.
According to the company’s statement on the website of the Turkish government public disclosure platform, the actual transfer of assets has not yet been completed. The parties are currently negotiating the cost of the transaction and its terms.
BloombergHT estimates the proceeds from the sale of Lifecell at 12.7 billion hryvnia ($334 million), Global Bilgi at 47.2 million hryvnia ($1.2 million), and Ukrtower at 1.96 million hryvnia ($51.6 million).
In early November, it was reported that Lifecell’s third-quarter revenues amounted to 75.9% of Turkcell International’s revenues and 8.4% of the entire Turkcell holding. At the time, Turkcell noted that Lifecell’s current cash reserves were “more than sufficient” to support the company’s operations.
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