Viaplay Assumes Full Ownership of Allente Group

Viaplay Group has completed its acquisition of Telenor Communication’s 50 percent stake in Allente Group for SEK 1.1 billion (€100.7 million) to become the sole owner of Allente.

“The acquisition of, and partnership with, Allente is a strategic step in Viaplay Group’s ongoing transformation and fully in line with our focus on strengthening our Nordic core,” said Jørgen Madsen Lindemann, president and CEO of Viaplay Group. “The addition of Allente’s DTH and broadband TV platforms extends our customer reach, while Allente’s established customer base adds scale and stability to our operations. Now that the transaction is finalized, we look forward to sitting down with the Allente team to explore what the future should look like and how we can build that future together in the smartest and most value creating way.”

The acquisition is financed with available cash, as well as a new SEK 1.7 billion term loan to refinance the existing indebtedness of Allente. Viaplay Group has also established a new SEK 2.5 billion working capital facility and cancelled its EUR 646 million (approximately SEK 7.1 billion) guarantee facility. Including the unchanged SEK 1.9 billion of bonds and notes, the group’s long-term indebtedness will have been significantly reduced to approximately SEK 6,100 million. In addition, Viaplay Group has reduced the size of its revolving credit facility from SEK 3.4 billion to SEK 2.8 billion. The resulting strengthening of Viaplay Group’s credit profile paves the way for a full debt refinancing in the future.