News & Deals



Link Mobility Group AS (Norway) Signed an Agreement to Buy Five of Allterco’s Telecom Subsidiaries

On 29 June 2019 Bulgaria’s Allterco has signed an agreement to sell five of its telecommunications subsidiaries to Norway’s LINK Mobility Group for an indicative price of EUR 7.9 million. The final price will be determined on a cash-free/debt-free basis after correction of the companies’ preliminary financial statements. The deal concerns Allterco’s units in Bulgaria – Teravoice, Tera Communications and Allterpay, as well as its Romania-based subsidiary Teracomm RO and North Macedonia-based Tera Communications DOOEL.

Upon completion of the transaction, Allterco will receive 60% of the price in cash. A further 20% will be paid on a deferred basis within two years, while the remaining 20% will be paid by transferring rights for purchase of shares in Victory Partners VIII Norway Holding – the sole owner of LINK Mobility Group. With this deal, Allterco is divesting its entire telecommunications portfolio and will focus on its IoT subsidiaries.

BOYANOV & Co. leads the SEE Legal team (BOYANOV & Co., Bulgaria, NNDKP, Romania and Polenak Law Firm, North Macedonia) advising LINK on the acquisition. The SEE Legal member firms have (i) carried out a legal due diligence of the targets (three companies in Bulgaria, one in Romania and one in North Macedonia), (ii) advised on the share purchase agreement, (iii) advised on a corporate restructuring of the targets to smooth the completion, (iv) advised on antitrust clearances in Bulgaria and North Macedonia and (v) assisted in satisfaction of various other conditions precedent to closing the deal, etc.

BOYANOV & Co.’s team was led by partner Damian Simeonov, Polenak Law Firm’s team included partners Tatjana Shishkovska and Metodija Velkov, and NNDKP’s team was lead by partner Gabriela Cacerea and managing associate Madalina Panca.


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