Category Archives: M&A

Digi Communications NV’s subsidiary in Hungary DIGI Távközlési és Szolgáltató Kft. acquires 99.998395% of the share capital and voting rights of Invitel Távközlési Zrt. for EUR 135.4 million

BUCHAREST, Romania, Jun-2-2018 — /EPR Financial News/ — The Company would like to inform its shareholders that, as a result of the completion of the conditions to closing provided in the share-purchase agreement (“SPA”) signed on 21 July 2017 between DIGI Távközlési és Szolgáltató Kft.(“Digi HU”), as the purchaser, and Ilford Holding Kft. and InviTechnocom Kft. (former name Invitel Technocom Távközlési Kft.), acting as sellers (the “Sellers”), the acquisition by Digi HU of shares representing in total 99.998395% of the share capital and voting rights of Invitel Távközlési Zrt. (the “Target”) was finalized today, 30 May 2018.

The total consideration paid by Digi HU to the Sellers for the acquisition of shares in the Target was of approximately EUR 135.4 million.

The Company welcomes the addition to the Digi group of a key Hungarian telecommunications operator positioned as the second-largest incumbent fixed line telecommunications and broadband internet services provider in the residential and small business customers segment in Hungary. The Target offers an extensive portfolio of services to residential and small business customers, including a variety of multimedia and entertainment services such as interactive, digital and HD television, fast internet offerings and fixed telephony services across its regional networks.

This transaction will allow the Company’s group to consolidate its position on the Hungarian telecommunications market, and to expand its customer reach and experience, as well as to create better operational synergies.

SOURCE: EuropaWire

Anthony Citrolo Elected Executive Vice President & Director of The Long Island Chapter Of The Accountant/Attorney Networking Group Inc. (AANG)

It has been announced today that, Anthony Citrolo, CPA, CVA, CMAA, CBI has been elected as the 2012 Executive Vice President and Director of the Long Island Chapter of the Accountant/Attorneys Networking Group Inc. (AANG)

The Accountant/Attorney Networking Group is comprised solely of practicing accountants and practicing attorneys who service multiple clients. The purpose of the group is to facilitate networking between and among attorneys and accountants – two professions that have enormous synergy and potential for cross referrals. AANG offers 12 monthly networking breakfast meetings exclusively for accountants and attorneys. AANG also hosts two major networking cocktail receptions open to all professionals. The organizations’ web site is

According to Mr. Citrolo a Managing Partner of M&A firm NYBB/Reliance Strategies, “the AANG creates a great platform for Accountants and Attorneys to meet and share information and ideas that can be used to bring cutting edge financial and legal solution to business owners or entrepreneurs engaged in a business sale or acquisition. Further Mr. Citrolo adds, “since Accountants and Attorneys are key players of the deal team that representbusiness buyers and sellers, the coordination of their efforts can result in lowering the fees incurred in the transaction and giving the deal the best chance of being consummated.”

About NYBB/Reliance

NYBB/Reliance Strategies is a full-service Merger & Acquisition firm in Melville, New York assisting companies with up to $50M in revenue to develop an exit strategy or make a targeted acquisition. In addition to M&A and consulting services, NYBB/Reliance offers valuation services in determining both Business and Transaction Values. Anthony can be reached at 631.390.9650 or

Via EPR Network
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Emeraldstone Investments Has Completed Purchase Of Colombian Emerald Mining Enterprise

The Cyprus based Emeraldstone Investments Limited has bought a company in Colombia that operates with emerald mining. The merger deal that has been preparing for several months was finally finished.

The contract that is considered to become the new step for Emeraldstone Investments Limited and draw the company to a new level of business that would include global market of precious stones.

The Colombian enterprise CEO, Leo Gransesa comments on the situation: “This deal was a great success for both companies. Our enterprise has been preparing for the merge before. However, the proposition made by Emeraldstone Investments Limited was better than we could ever hope. I’m glad that the business is in the right hands now. One of the most important results of this deal was the fact that Emeraldstone is going to keep the job for all our employees”.

Marvin Tillman, the Head of Emeraldstone Investments board also comments on the deal: “All primary conditions of the contract were followed. We have purchased the majority stake which makes 75% of the total number of shares. The enterprise keeps its management and working staff though the top management would be transferred from the head office of Emeraldstone”.

As a result this turned out to be one of the deals that makes both parties benefit from it tremendously. The representatives of both US and Colombia sides celebrate the biggest deal of the year in the field of gemstone investment.

Regarding this fact Emeraldstone is going to introduce new investment plans for its most regular investors and special offer for brand-new clients. New introductions are to be presented within a month from the date of signing the contract and should make a great contribution to world economy recovering.

Via EPR Network
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