SMARTS was the largest independent regional telecommunications operator, serving approximately 2 million users
Projects
SMARTS
Telecommunications operator
US$200 million
Deal size
2014 – 2015
Project duration
Russia
Geographies
By the time PCG was hired, SMARTS was in default on several loans owed to Russian banks. PCG’s task was to negotiate with the banks and sell off all the assets either as a whole or in parts. The asset sale coincided with a conflict among shareholders, and as a result, it took the owners a long time to sell their shares.
In February 2014, Proxima Capital Group was hired as a consultant for the asset sale. As a result:
An agreement was reached with creditors to extend repayment deadlines so as to have more time to sell the assets
Sale of the part of the company’s assets to Vimpelcom
Sale of the part of the company’s assets to MTS
Sale of the part of the company’s assets to Megafon
Assistance to shareholders in reaching an amicable agreement
Role
PCG