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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.

Editor's Note 2: On October 21, 2020, CEE Legal Matters was informed that the deal is now closed.

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