4iG Nyrt. (BUSE:4IG) and Corvinus Nemzetközi Befektetési Zrt. entered into heads of terms to acquire Vodafone Magyarország Mobil Távközlési Zartkoruen Mukodo Részvénytársaság from Vodafone Europe B.V. for approximately HUF 720 billion on August 22, 2022. As of January 9, 2023, 4iG Nyrt. and Corvinus Nemzetközi Befektetési Zrt. entered into binding terms to acquire Vodafone Magyarország Mobil Távközlési Zartkoruen Mukodo Részvénytársaság from Vodafone Europe B.V. for HUF 660 billion.

As per the transaction, 4iG Nyrt. Will acquire 51% stake and Corvinus Nemzetközi Befektetési Zrt. will acquire 49% stake in Vodafone Magyarország Mobil Távközlési Zartkoruen Mukodo Részvénytársaság. The transaction represents a multiple of 7.7x EBITDA for the twelve-month period ending March 31, 2022. As of January 9, 2023, revised cash consideration represents a multiple of 8.4x EBITDA for the twelve-month period ending March 31, 2022. As on March 31, 2022, Vodafone Magyarország Mobil Távközlési Zartkoruen Mukodo Részvénytársaság generated, revenue of HUF 278 billion and its adjusted EBITDA exceeded HUF 93 billion. The transaction is subject to completion of confirmatory due diligence, the parties entering into binding transaction documentation and obtaining regulatory approval and is expected to close by the end of 2022. As of January 9, 2023, the transaction is expected to take place in January 2023. Proceeds from the sale are intended to be used for deleveraging.

JPMorgan Chase & Co. acted as financial advisor to 4iG Nyrt. and Corvinus Nemzetközi Befektetési Zrt. in the transaction. Bank of America acted as financial advisor to Vodafone Magyarország Mobil Távközlési Zartkoruen Mukodo Részvénytársaság. Victoria MacDuff, Richard Hilton, Duncan Blaikie, Charlie McGarel-Groves, Mike Lane, Claire Jeffs, Alexander Chadd and Padraig Cronin of Slaughter and May advised Vodafone on the transaction.

4iG Nyrt. (BUSE:4IG) and Corvinus Nemzetközi Befektetési Zrt. completed the acquisition of Vodafone Magyarország Mobil Távközlési Zartkoruen Mukodo Részvénytársaság from Vodafone Europe B.V. on January 31, 2023.