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Baltic Investment Company advised shareholders of Radio SWH, the leading Latvian radio broadcasting company, on the attracting a strategic partner
22/06/2007

As of June 21, 2007 a/s Radio SWH owners and Communicorp Group Ltd have reached the agreement for a strategic cooperation in the Baltics. The details of strategic cooperation and the transaction terms are not disclosed by the parties, however the agreement will allow Communicorp Group, which is present in Estonia since 2004 to widen its presence in the Baltics and establish itself on the Latvian market.

Radio SWH is the leading Latvian radio broadcasting company founded in 1993 as one of the first private radio station in Latvia. Today the Company is a recognised Latvian market leader operating three well-known local radio stations: Radio SWH, Radio SWH+ and Radio SWH Rock. Net turnover of the Radio SWH Group in 2006 was more than LVL 3 million.

Communicorp Group is a media holding company founded in 1989 by Irish Entrepreneur Denis O’Brien. The Company is the leading Irish commercial radio broadcaster and operates one of the largest independent radio groups in Central and Eastern Europe. Communicorp is now the fastest growing radio network in Europe with 38 radio stations across 7 countries.

BIC acted as financial advisor to the shareholders of SWH Group.

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