OREANDA-NEWS. December 5, 2007. Providence Equity Partners, the world’s leading media and communications private equity firm, is investing over US$200 million in Volia Cable, the press service of the former disclosed. Volia Cable is the leading Ukrainian cable TV and Internet access provider and is controlled by UGF III, a SigmaBleyzer-managed private equity fund. This transaction is the largest Western private equity investment in Ukraine, illustrating the interest of Western investors in Ukrainian companies. The transaction is expected to close in December of 2007.

"We are very pleased to partner with Providence, a leading private equity investor and one of the largest and most experienced owners of media  and communications companies globally," said Michael Bleyzer, President and CEO of SigmaBleyzer. "This is a natural step forward for Volia Cable, SigmaBleyzer and Volia Cable’s other shareholders. SigmaBleyzer will continue to play an active role in the Ukrainian cable sector, and we look forward to Providence’s support as we continue to grow Volia Cable as the leading cable and broadband provider in Ukraine. It is also our belief that attracting the highest quality global investors like Providence will have a positive
effect on the Ukrainian economy and investment climate and will further promote Ukraine as an important investment destination." 

"Our company is dedicated to providing the highest quality products, supported by outstanding customer service," said Sergey Boyko, President of Volia Cable. "We believe that Providence, as one of the world’s leading investors in cable, will help us deliver even better products to our customers in Kyiv and other cities in Ukraine."    
 
"This is our seventh significant investment in this sector in Europe and our second in Eastern Europe, which is experiencing increasing demand for sophisticated television and broadband services," said Jonathan M. Nelson, Providence Chief Executive Officer.  "We continue to believe that quality cable and broadcasting companies like Volia are critical service providers with significant opportunities for growth and value creation."  
 
"Volia is an important player in the communications and entertainment sector in Ukraine," said John Hahn, a Managing Director of Providence and head of the firm’s office in Europe. "We have extensive holdings in cable businesses across Western Europe and are excited about the opportunity to marry that expertise with the great business that SigmaBleyzer and the Volia management teams have built."
 
Goldman Sachs International and UBS Investment Bank acted as financial advisors to SigmaBleyzer. Lazard acted as financial advisors to Providence.

Providence Equity Partners is the leading global private equity firm specializing in equity investments in media, entertainment, communications and information companies around the world. The principals of Providence manage funds with approximately  $21 billion in equity commitments and have invested in more than 100 companies operating in over 20 countries since the firm's inception in 1989. Significant investments include  Bresnan Broadband Holdings, Casema, Com Hem, Digiturk, Education Management Corporation, eircom, Freedom Communications, Hulu, Idea Cellular, Kabel Deutschland, Metro-Goldwyn-Mayer, NexTag, Ono, Open Solutions, PanAmSat, ProSiebenSat.1, Recoletos,  TDC, Univision, VoiceStream Wireless, Warner Music Group, Western Wireless and Yankees Entertainment and Sports Network. Providence is headquartered in Providence, RI (USA) and has offices in New York,
London, Hong Kong and New Delhi.