We are consistently rated as one of the leading law firms in the region. PRK Partners has one of the most experienced legal teams on the market. Our legal team is fluent in more than 15 languages, including all the key languages of the region. They also have experience working for leading international and domestic law firms in a number of jurisdictions. Our lawyers studied at top law schools in the United States, United Kingdom, Switzerland and elsewhere. Our team of lawyers, based in our Prague, Ostrava, and Bratislava offices, has a unique knowledge of Czech and Slovak law and of the business environment. PRK Partners, one of the leading Central European law firms, has been helping clients achieve their business objectives almost 30 years. The Prague-based Baker McKenzie team advising on the financing was led by Partner Libor Basl, supported by Associates Lukas Hron, Dusan Hlavaty, and Petr Vojtech.īaker McKenzie did not reply to our inquiry about counsel for Denemo Media on the financing and the underling transaction, nor for Modern Times Group. Denemo Media is a Czech joint venture between Denemo Invest, controlled by businessman Vladimír Komar via Alphaduct, and GES Media Asset, owned by Ivan Zach. Founded in Sweden, the company’s shares are listed on Nasdaq Stockholm. The Modern Times Group is an international digital entertainment group with brands spanning TV, radio, and next generation entertainment experiences in eSports, digital video networks, and online gaming. The share acquisition by Denemo media, which remains subject to Czech regulatory approval, is expected to close in the first quarter of 2017 and will return FTV Prima entirely back to Czech ownership. This is another key step in our ongoing transformation and we are constantly reviewing opportunities to expand our digital operations and footprint further’, added the executive.Baker McKenzie has advised Ceskoslovenska Obchodni Banka on its provision of a loan facility to Denemo Media for its EUR 116 million acquisition of Modern Times Group's 50% shareholding in FTV Prima Holding, the second largest private Czech broadcaster. This is perfectly in line with our strategy to invest in relevant, complementary and scalable digital content and communities, and online gaming is the third vertical in our MTGx digital video entertainment portfolio. ‘We are considering investing part of the proceeds in moving up to a majority position in InnoGames. We wish the team continued success with our local partner and the new investor’. Over the past 11 years, our local Czech partner and we have transformed the Czech media landscape by launching a wide variety of channels and services, and establishing Prima as the go-to brand for information and entertainment. Jørgen Madsen Lindemann, President and CEO, MTG: ‘Prima Group is a great business with a very talented team delivering popular news and entertainment programming. The total cash return on the investment, including dividends received and the sale price, is expected to amount to approximately USD 0.8 billion.ĭenemo Media is a joint venture between Denemo Invest (75%), subsidiary of Vladimir Komar’s Alphaduct, and Ges Media Asset (25%), part of Ges Group, which already owns 50% of FTV Prima Holding. The company acquired 50% of FTV Prima Holding in 2005 for € 87 million (USD 94 M) in cash. MTG sells 50% shareholding in FTV Prima Holding in Czech Republic for 11.2x trailing 12 month EBIT and total cash return of 2x original investment, with the objective to use of proceeds to increase ownership in InnoGames from 21% to 51%, betting from traditional broadcaster into global digital video entertainer. Closing is subject to local regulatory approval and expected in Q1 2017. The Swedish Group has fully consolidated FTV Prima Holding, which contributed USD 138.2 million of sales and USD 22 million of operating income (EBIT) for the twelve months to the end of Q3 2016.
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