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Greenberg Traurig Advises Cyfrowy Polsat Group on Acquisition of Shares in Netia

Greenberg Traurig Advises Cyfrowy Polsat Group on Acquisition of Shares in Netia

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Greenberg Traurig is representing Cyfrowy Polsat Group on the acquisition of a block of approximately 32% of shares in Netia from two major shareholders, with the total purchase price amounting to PLN 638.8 million, and on the announcement of a tender offer in order to achieve 66% of the total number of votes at the General Meeting of Netia.

According to Greenberg Traurig, Warsaw Stock Exchange-listed Cyfrowy Polsat, "has been implementing a multiplay operator strategy for several years, expanding its portfolio of services provided and offering, together with the Plus mobile network, the SmartDOM program. Currently, the group offers its flagship services of pay-TV, mobile telephony and LTE Internet, and in addition services connected with electricity, gas, home monitoring, banking and insurance as well as telecommunications equipment, consumer electronics and household appliances."

Netia S.A. is a telecommunications operator and a television, fixed-line and mobile telephony, and Internet provider. It is a public company listed on the Warsaw Stock Exchange.

Greenberg Traurig reports that it "provided comprehensive legal advice with respect to the transaction, including development of the transaction structure, drafting contracts with the major shareholders, legal advice in the area of regulatory matters, which also involved the preparation of an application to the Office of Competition and Consumer Protection, as well as legal advice on the tender offer."

The transaction was led by Managing Partner Jaroslaw Grzesiak and Local Partner Daniel Kaczorowski, supported by Local Partner Karolina Dunin-Wilczynska and Associates Paulina Kimla-Kaczorowska, Anna Chrabota-Bajson, and Grzegorz Socha.

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