BC Partners, United Group reps discuss potentials of region at EBRD summit

BC Partners, United Group reps discuss potentials of region at EBRD summit

BC Partners, United Group reps discuss potentials of region at EBRD summit Izvor: N1

Acquisition of majority shares in the United Group is one of the biggest foreign investments in the region, said Stelios Elia, BC Partners Managing Director, speaking at a panel discussion on potentials of south-east Europe, within the European Bank for Reconstruction and Development (EBRD) annual forum in Sarajevo.

“The United Group works with 20 million people in the whole region and the group has coherent consumer demands and preferences. The culture and languages are similar, and that's how the United Group managed to achieve the economy of scale. That's how it became the first choice partner,” said Elia.

It is of crucial importance to spend time talking to investors, he added.

Victoriya Boklag, United Group CEO, recalled that this company was established in Serbia 12 years and that today it is probably the largest media company in the region.

“Last year we took over three new TV stations in Croatia, Bosnia and Montenegro. We have incomes of some €650 million. We employ 4,500 people on all these territories,” she said.

By taking part in the panel discussion, BC Partners appeared in the region for the first time after becoming the majority shareholder in the United Group in March this year.

The acquisition was one of the largest foreign investment in the region. United Group, the leading provider of media and communication services in the region operates under the brands of SBB, Sport Klub, N1, Nova and Telemach.

The region's economy is expected to grow by 6-7 percent in the upcoming period, according to Managing Director at the political risk consultancy firm Teneo Intelligence, Wolfango Piccoli.

But, he said, it all depends on investments.

“If clients ask us what's next for the Western Balkans, that is the integration into the European Union, cooperation with the International Monetary Fund (IMF). We expect and we hope for the six to seven growth in the region,” said Piccoli.

EBRD focuses on both the development of the institutions and the system functioning, Zsuzsanna Hargitai, the EBRD’s Director for the Western Balkans told the participants.

“Development of institutions is in the focus and I think we can speak about the rule of law and the way it works. That's why we are using digital technology to improve it and have as developped market as possible,” she said.

Comments (0)

Comment sent successfully.

Comment sending failed.

Invalid CAPTCHA

* All fields are required

MOST POPULAR

READ MORE

NEWS

NEWS

UG to Serbia's PM: Pressure on judiciary comes from state officials 20.11.2019.

20.11.2019.  |  NEWS

NEWS

NEWS

Serbia’s Minister signs two security deals in Moscow 20.11.2019.

20.11.2019.  |  NEWS

NEWS

NEWS

Serbia's secret service confirms man on video is Russian spy 20.11.2019.

20.11.2019.  |  NEWS

NEWS

NEWS

EU and Serbia agree on border cooperation 20.11.2019.

20.11.2019.  |  NEWS

NEWS

NEWS

PM: Serbia’s 2020 budget deficit at 0,3 pct of GDP; opposition: propaganda 20.11.2019.

20.11.2019.  |  NEWS

NEWS

NEWS

French envoy to Vucic: Serbia's Euro-integration progress to be acknowledged 20.11.2019.

20.11.2019.  |  NEWS

NEWS

NEWS

Kosovo's outgoing PM: Lifting taxes on Serbia's goods will be tragic mistake 20.11.2019.

20.11.2019.  |  NEWS

NEWS

NEWS

Maldives' fmr minister suspected of taking bribe for recognition of Kosovo 20.11.2019.

20.11.2019.  |  NEWS

loader