NEQSOL Holding announces successful financing by J.P. Morgan Securities Plc and Raiffeisen Bank International A.G. and completion of the acquisition of 100% shares in Vodafone Ukraine
03 December 2019

December 3, 2019, London, Amsterdam

NEQSOL Holding announces today it has completed the acquisition of Vodafone Ukraine telecommunication company. Acquisition financing has been provided by the group of international funds and financial institutions led by J.P. Morgan Securities Plc and Raiffeisen Bank International A.G.

Earlier, NEQSOL Holding signed a binding agreement by its controlled company with MTS (NYSE: MBT, MOEX: MTSS) for the acquisition of its telecommunications operations in Ukraine. Under the agreement, MTS’s wholly-owned subsidiary Allegretto s.a.r.l sold its 100% stake in its Dutch subsidiary Preludium B.V. (the “Company”), the sole shareholder of VF Ukraine PrJSC, for a cash consideration of USD 734 m including a c. USD 84 m of earn-out payment.

J.P. Morgan Securities Plc acted as a financial advisor to Bakcell LLC, a NEQSOL Holding group company. J.P. Morgan Securities Plc and Raiffeisen Bank International A.G. have arranged financing for the acquisition. Funding has been made available with the participation of a select group of international banks and institutional investors.

NEQSOL Holding’s investment team has led the overall M&A transaction process with the involvement of DLA Piper, PwC, Deloitte and Detecon.

“With the acquisition of one of the most successful companies in Ukraine, we pursue our strategy of international expansion. I would like to thank all the involved parties contributed to making this deal possible. As a strategic investor, we have a long-term vision and we will contribute to further development of the company,” says Nasib Hasanov, founder and sole owner of NEQSOL Holding group of companies.

“Considering international experience and achievements of NEQSOL Holding operating across various countries and industries, our strong commitment and adherence to the highest international financial and compliance standards, we were able to raise a substantial amount of funding from reputable international financial institutions. We have successfully finalized the acquisition of Vodafone Ukraine, one of the most successful companies and the second-largest telecommunications company in Ukraine. This is the next significant milestone in our strategy of international expansion and entering new markets. The deal was closed in record time thanks to intensive and collaborative work of the team with our highly reputable finance arrangers and advisors such as JP Morgan, Raiffeisen Bank International, DLA Piper, Linklaters, Deloitte, PWC, and Detecon. According to our strategy, we will invest in cutting-edge technologies and innovations in the Ukrainian telecommunication market,” says Yusif Jabbarov, СЕО of NEQSOL Holding.

“We are pleased to be engaged in this landmark acquisition in Ukraine, which has brought significant foreign investment into the regional telecom sector.” says Puja Turner, Head of CEEMEA Loan Finance, at J.P. Morgan Securities plc.

The change of the owner will not affect Vodafone Ukraine’s operations. The Company will continue providing services under the brand of Vodafone and deliver on all its commitments to its employees, clients and partners.

NEQSOL Holding will provide further details about its plans in the Ukrainian market later.

About NEQSOL Holding group of companies

NEQSOL Holding group of companies has over 25 years of experience operating in a multi-industrial and multi-national environment. The main areas of business operations of NEQSOL Holding include oil and gas, telecommunications, hi-tech, and construction industries. The group of companies operates in the UK, the USA, Turkey, Azerbaijan, Ukraine, Kazakhstan, and the UAE.

Nowadays, the group includes UK-registered Nobel Oil Services Limited and Nobel Oil E&P Limited (known under the trade name Nobel Upstream). Holding an interest in various oil and gas fields, Nobel Upstream with its HQ in London operates in the UK, the USA and Azerbaijan. Nobel Oil Services’ subsidiaries operate in different countries, including Azerbaijan, Turkey, and Kazakhstan. The group established joint ventures with such international companies as KCA Deutag, Wood and more.

In the early 2000s, the group expanded its business to telecommunications. Companies of the group provide mobile services, international transit and internet backbone connection, leased line services, data center services, etc. The group is investing in projects to create the Digital Silk Way between Europe and Asia.

In the early 2010s, the group entered the construction market. Norm is the largest cement manufacturer in the Caucasus region.

The group invests in various high-tech startups and companies providing innovative solutions and services in different markets.

Businessman Nasib Hasanov is the founder and 100% owner of NEQSOL Holding group of companies, including Nobel Oil Services (UK) Limited, Nobel Oil E&P (UK) Limited (trade name Nobel Upstream), Bakcell LLC and Norm OJSC.