A cross-office team from Squire Sanders has advised VTB Capital, the investment arm of Russia’s second-biggest lender, in its purchase of a minority stake in Russian satellite-television provider Tricolor TV for an undisclosed sum.
Tricolor TV is the brand of National Satellite Company, the largest satellite television operator in Russia and Europe, with more than 12.4 million registered subscribers and 9.12 million paying subscribers. VTB Capital is the strategic business investment arm of VTB Group. The Russian pay-TV market is rapidly growing and VTB Capital is seeking to prepare Tricolor TV for an initial public offering within a few years.
A team from Squire Sanders’ Moscow and London offices, led by corporate partners David Wack and Chris Rose, and including Yana Dianova, Chris Watkinson Julie-Anne Lucchetti and Anna Grozovskaya, advised VTB Capital. David Wack commented, “I'm pleased that our private equity team, top-ranked in the Russian market, has been able to represent VTB Capital in another important investment - this time in a business with considerable opportunity for expansion in a the fast growing Russian satellite television market.”