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White & Case, Bondoc Si Asociatii, and Covington & Burling Advise on PPF's Acquisition of CME

White & Case, Bondoc Si Asociatii, and Covington & Burling Advise on PPF's Acquisition of CME

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White & Case has advised the PPF Group on its USD 2.1 billion acquisition of Central European Media Enterprises. Bondoc Si Asociatii advised PPF on Romanian law matters. CME was advised by Covington & Burling and Sullivan & Cromwell.

The transaction is subject to customary closing conditions, including the approval of CME's shareholders, the European Commission, and national regulators in several countries where CME is active. 

BNP Paribas and Societe Generale acted as structuring advisors to PPF on the EUR 1.15 billion acquisition facilities, which were fully underwritten by BNP Paribas, Credit Agricole CIB, Credit Suisse, HSBC, Societe Generale, and UniCredit.

CME operates television stations in Bulgaria, the Czech Republic, Romania, Slovakia, and Slovenia.

White & Case’s Prague-based team included Partners Jan Andrusko, Jonathan Weinberg, and Tomas Jine, Local Partner Jan Stejskal, and Associates Jan Jakoubek, Iva Cechrakova, Kamila Dankova, Anna Starkova, Mikolas Ruzek, Petr Kalensky, Tereza Vaculikova, and Tadeas Matys. Its New York-based team consisted of Partners Chang-Do Gong, Robert Chung, Arlene Arin Hahn, Henrik Patel, Seth Kerschner, Steven Lutt, and David Dreier, Counsel Kenneth Barr, and Associates Jordan Kobb, Chu Chu, DeVoia Stewart, Grayson Weeks, Julianne Prisco, and Brenton Clarke. Its London-based team included Partners Justin Wagstaff, Ken Barry, and Colin Harley, and Associates Chris Norris and Will Summers, while its Bratislava-based team included Associates Radoslav Palka, Vladimir Ivanco, Michal Zathurecky, and Simona Rapava. 

The Bondoc si Asociatii team was led by Partner Lucian Bondoc.

The Covington & Burling team included Partners Scott Smith and Patrick Manchester, Special Counsel Jeffrey Potash, Associate Clayton Collett, and Law Clerk Chul Hun Lee.

Editor's note: After this article was published Djingov, Gouginski, Kyutchukov & Velichkov informed CEE Legal Matters that it provided Bulgarian legal support to the PPF Group on the deal. The firm's team consisted of Partner Violetta Kunze, Senior Associates Valentin Bojilov, Milka Ivanova, Anton Petrov, Lilia Kisseva, Dessislava Iordanova, Silviya Apostolova, Vladislav Antonov, Rusalena Angelova, and Kamen Gogov, and Associates Lora Aleksandrova, Tsvetelina Bayraktarova, Galin Atanasoff, Viktoriya Marincheva, Patricia Cherkezova, Hristo Stoyanov, Peter Angov, Evgeny Minchev, and Eliza Alexandrova.

Subsequently, CEE Legal Matters learned that Allen & Overy had advised the arranging banks on the transaction. The firm's team included London-based Partner Cathy Bell-Walker, Counsel Jan Skuhravy, and Senior Associate Temi Esho, and Bratislava-based Senior Associate Peter Redo and Associate Petra Dzubakova.

Bondoc si Asociatii at a Glance

Bondoc și Asociații SCA is a leading Romanian law firm advising private corporations, public entities and lending institutions in the development of significant and increasingly integrated projects in a wide range of practice areas, including corporate and commercial law, M&A, banking & finance (including also structural funds and state aid), energy, capital markets, competition law, labor, real estate, IT&C, regulatory and compliance. Its lawyers are specialized in providing integrated advice on virtually every legal aspect associated with complex cross-border transactions, as well as domestic projects.

We have the experience and necessary resources to advise private corporations, public entities and financial institutions in their cross-border expansion, in the development of significant and increasingly integrated projects.

In terms of M&A transactional work, our team has been involved in many significant transactions covering a broad range of industries.

We are one of the few firms capable of assisting in a professional manner on virtually any type of M&A project in any industry in Romania and of any size, including with respect to highly regulated sectors or in connection with public authorities.

We have very strong departments in all support areas needed for such transactions, including without limitation competition, commercial law, real estate, labor law, banking &finance, energy, environment, and other regulatory.

Key Information:

  • 9 partners;
  • 40 lawyers, most of whom have also studied abroad;
  • Covering the full range of legal services;
  • Having worked on many of the largest and most complex projects in the Romanian market in the past 3 years;
  • One of the very few Romanian law firms growing in the market;
  • Highly recommended by international directories in 11 areas of law.

We offer:

  • Integrity;
  • A Client-oriented approach;
  • Top quality services, including in highly regulated sectors;
  • A size allowing for the coverage of several large projects at the same time;
  • Very strong experience in both domestic and international complex projects, including in highly regulated sectors;
  • A holistic approach.


Our lawyers have wide experience in dealing with complex and sophisticated legal matters.

  1. Banking & Finance
  2. Capital Markets
  3. Commercial
  4. Competition
  5. Corporate / Mergers & Acquisitions
  6. Data Protection
  7. Employment
  8. Energy & Natural Resources
  9. Environment & Regulatory
  10. Healthcare/Pharma & Medical Services
  11. Insurance and Private Pensions
  12. Intellectual Property
  13. IT/Technology & Communications
  14. Litigation & Arbitration
  15. Media, Entertainment & Advertising
  16. Public Procurement & PPP
  17. Real Estate& Constructions
  18. Restructuring & Liquidation
  19. State Aid & European Structural Funds
  20. White Collar / Investigations & Compliance

For further information about Bondoc si Asociatii Law Firm, please visit our website at bondoc-asociatii.ro.