Greenberg Traurig has advised the Polsat Group on its acquisition of Interia Group from Bauer Media Group. Noerr advised the sellers on the deal, which remains subject to regulatory approval.
Grupa Polsat, which includes the Cyfrowy Polsat, Polkomtel, Telewizja Polsat, Netia, and IPLA brands, is the largest media and telecommunication group in Poland. The group provides its 5.7 million customers with access to 16.9 million services: mobile phone services, pay digital TV, and the Internet.
Greenberg Traurig describes the Interia Group as a new generation media company, reaching “nearly 60% of Internet users in Poland.”
The transaction was valued at PLN 422 million, although Greenberg Traurig reports that the final price “will be subject to an adjustment mechanism and interest set out in the preliminary agreement."
According to Greenberg Traurig, “as part of the deal, Telewizja Polsat sp. z o.o. entered into a preliminary agreement with Bauer Media Invest GmbH and Bauer Polen Invest GmbH for the acquisition of 100% of the shares in Grupa Interia.pl sp. z o.o. and all the rights and obligations of the limited partner in Grupa Interia.pl Media sp. z o.o. sp. k. Other parties to the preliminary agreement are Cyfrowy Polsat S.A, as a guarantor for obligations of Telewizja Polsat under the preliminary agreement and Heinrich Bauer Verlag Beteiligungs GmbH, as a guarantor for sellers’ obligations under the preliminary agreement.”
Greenberg Traurig’s team included Managing Partner Jaroslaw Grzesiak, Partners Daniel Kaczorowski and Michal Fereniec, Local Partner Michal Bobrzynski, Senior Associates Agnieszka Stopinska, Marek Kleczek, Paulina Kimla-Kaczorowska, Magdalena Bachleda-Ksiedzularz, and Magdalena Medynska, and Associate Natalia Wolkowycka.
Noerr's team included Partner Volker Land, Associated Partner Jakub Lerner, Senior Associates Mateusz Slodczyk and Anna Mirek, Associates Joanna Kuc and Joanna Szacinska, and Legal Advisor Aleksandra Drozdz.
Editor's Note: On July 6, 2020, Greenberg Traurig announced that it had helped Telewizja Polsat obtain merger clearance from the Polish Competition Authority for its acquisition of the Interia Group. The firm's team included Partner Robert Gago, Senior Associate Radoslaw Pawluk, and Associates Filip Drgas and Marta Kownacka.