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CMS Advises MZN Property on Tech Sector Investments

CMS Advises MZN Property on Tech Sector Investments

Poland
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CMS has advised MZN Property S.A. and some of its shareholders on the acquisition of an unnamed strategic investor.

According to CMS, “MZN Property is the owner of Internet platforms such as Morizon.pl, one of the largest real estate classified services in Poland, and Lendi.pl, offering innovative financial services in the area of credit intermediation. Under the investment agreement, Ringier Axel Springer Media AG announced a tender offer to subscribe for shares in MZN Property, offering PLN 1.97 per share. Finalization of the acquisition depends on acquiring shares granting Ringier Axel Springer at least 66% of the total number of votes at the General Meeting of Shareholders and obtaining the unconditional consent of the President of the Office for Competition and Consumer Protection to carry out the transaction. As stated in the stock exchange announcement, Ringier Axel Springer Media AG obtained irrevocable commitments from certain shareholders, under which the shareholders undertook to subscribe for shares representing a total of 64.33% of the votes.”

CMS’ team included Partner Rafal Zwierz, Attorney Monika Szczotkowska, Senior Associates Maciej Olejnik, Agnieszka Starzynska, Damian Karwala, Małgorzata Sajkiewicz, and Piotr Nowicki, and Trainee Advocates Mateusz Mazur and Aleksandra Dalecka.

CMS did not reply to our inquiry on the matter.