Warburg sells RBMH

Warburg Pincus and minority shareholder Russia Partners have sold RBMH Broadcast Media, a Russian radio station owner, to Europa Media Group. Financial details were not disclosed.

RBMH was formed in September 2003 when Warburg bought three radio stations, Radio 7, Eldoradio and Kanal Melodia. Since then the business has acquired one more station, Melodia Moscow, as well as expanding its regional coverage.

The sale is Warburg’s first Russian exit and means Warburg currently does not have any investments in Russia, although more are planned. Warburg has made eight investments in Central and Eastern Europe, one of which has been sold to a trade buyer and three have been floated.