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Rymarz Zdort Maruta Advises SFS Ventures on Transfer of 11% Stake in Eurozet to Agora

Rymarz Zdort Maruta Advises SFS Ventures on Transfer of 11% Stake in Eurozet to Agora

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Rymarz Zdort Maruta has advised SFS Ventures on its transfer of an 11% stake in Eurozet to co-shareholder Agora.

"As a result of the transaction, Agora's interest in Eurozet increased from 40% to 51%, while SFS Ventures' interest fell from 60% to 49%," the firm reported. "The price of the shares amounted to EUR 9.17 million, subject to adjustment in accordance with rules agreed upon by the parties. The transaction was financed using a loan granted by SFS Ventures to Agora."

According to Rymarz Zdort Maruta, "the transaction was carried out after the Court of Appeal in Warsaw issued a final judgment (as reported by CEE Legal Matters on March 3, 2023) upholding an earlier decision of the first-instance court granting unconditional consent to Agora's acquisition of control over Eurozet." 

According to the firm, "prior to the acquisition of the 11% interest by Agora, the parties entered into an annex to the existing shareholders' agreement between them. This agreement, among other things, grants Agora the right to acquire the remaining 49% stake in Eurozet held by SFS Ventures. The right can be exercised until July 31, 2025."

Polish radio company Eurozet engages in the production and broadcasting of radio programs, the sale of advertising time, and brokerage for stations and websites, as well as the creation and management of websites. It owns and operates radio stations, sells the advertising time of stations belonging to the group, and provides brokerage activities for other participants of the radio market in Poland. The company was founded in 1993 and is based in Warsaw, Poland.

Rymarz Zdort Maruta’s team included Partners Lukasz Gasinski and Iwona Her, Counsel Adam Puchalski, Senior Associates Adrian Wieslaw, Tomasz Kordala, and Marzena Iskierka-Janota, and Associate Szymon Rutecki.

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