Page 23 - BNE_magazine_12_2019 dec19

bne December 2019 Companies & Markets I 23
bne:Deal
Czech PPF acquires CME’s business in CEE for $2.1bn
bne IntelliNews
Central European Media Enterprises (CME), which holds some of the biggest TV channels in Bulgaria, the Czech Republic, Romania, Slovakia and Slovenia, said it has entered into a definitive agreement to be acquired for $2.1bn by PPF Group, a holding controlled by Central Europe’s richest man, Petr Kellner.
Rumours that Kellner was in talks to buy CME had reported already, and the deal came as no surprise after CME’s decision to reassess its presence in CEE.
“We are pleased that the PPF Group, with a strong track record as operators of businesses across many industries, shares our perspective on the importance of local content and its ability to attract large audiences to television,” CME said in a press release. The decision was backed by all shareholders.
Petr Kellner, Founder and majority shareholder, PPF Group N.V.
“Under the terms of the agreement, holders of all of CME’s issued and outstanding Class A common shares will receive US$ 4.58 per share. This valuation represents a premium of approximately 32% to CME’s share price prior to the announcement on March 25, 2019 that the Company was commencing a process to explore and evaluate potential strategic alternatives,” CME said in the press release.
In July 2017, CME divested its leading Croatian and Slovenian TV stations to United Group's Slovenia Broadband for €230mn in cash to pay down debt. In January this year, United Group sold Total TV in Croatia.
In Bulgaria, Kellner attempted to acquire Nova TV, but the local authorities banned the deal.
Czech-Slovak billionaires Kretinsky
and Tkac become the largest
shareholders in Metro AG
bne IntelliNews
EP Global Commerce Group (EPGC) of Czech billionaire Daniel Kretinsky and Slovak investor Patrik Tkac increased their share in German retailer Metro AG
to 29.99% by acquiring 7.3% of Haniel'́s shares, becoming Metro's largest shareholder, according to its press release from November 3.
“We are very excited to become a strategic shareholder of Metro AG. Metro is a strong brand and established player that operates in a very dynamic market environment. We believe in the company’s potential and we now focus on whether we can have a positive impact on the company and are able to support its future development in the right way,” said Daniel Kretinsky.
The transaction was expected to take place on November 6. EPGC exercised a call option that gives the owner the right to acquire 44,950,974 of common shares of Metro AG from Haniel. The price of the transaction has not been revealed.
According to EPGC press release, its sister company EP Global Commerce just signed an agreement with Ceconomy AG to purchase 3.6% Metro ordinary shares as well as an option scheme. The option scheme allows the company to acquire additional 5.4% of Metro ordinary shares.
“In total, Daniel Kretinsky and Patrik Tkac currently hold circa 10.9% and have options to acquire in aggregate less than 30%
www.bne.eu