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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.

Czech Republic Knowledge Partner

HAVEL & PARTNERS, attorneys-at-law, with offices in Prague, Brno, Bratislava, Pilsen, Olomouc, and Ostrava, has a team of 220 lawyers, tax advisors and 500 employees in total, is the largest independent law firm in Central Europe.

Our clients include large international companies, leading Czech and Slovak firms, including strategic state-owned companies and public sector authorities, as well as medium-size businesses, individual entrepreneurs, and investors. We advise approximately 100 of the Fortune 500 companies, and almost 50 of the Czech Top 100 companies. HAVEL & PARTNERS currently provides its services to a total of 2,000 clients. We have the most comprehensive international support available to both Czech and Slovak law firms. We provide legal and tax advice in 12 world languages in more than 90 countries around the globe. Up to 70 % of the transactions we deal with involve an international aspect.

HAVEL & PARTNERS was named the best law firm operating in the Czech Republic by the prestigious British rating agencies Chambers and Partners (2020) and Who’s Who Legal (2018, 2019). It is also the most successful law firm, providing the most comprehensive legal services in the Czech Republic and Slovakia, based on the total number of all nominations and awards in all years of the Law Firm of the Year awards. The firm became the absolute winner of this competition four times in the last six years, receiving the main award Domestic Law Firm of the Year in the Czech Republic (2015, 2017, 2018, 2020) and ranking as one of the most recommended law firms in all categories of law. Our company is also a three-time winner of the Law Firm of the Year award for Best Client Services (2015, 2016, 2019). In the field of M&A, HAVEL & PARTNERS is the best law firm in the Czech Republic based on the annual International Advisory Experts awards (2018, 2019). In Slovakia, it also won the prestigious global M&A Today Awards (2013–2018) for Mergers & Acquisitions six times in a row, and repeatedly won first place in the ranking by Lawyer International Legal 100 (2017, 2018). Prestigious international rating agencies EMIS DealWatch and Mergermarket have ranked HAVEL & PARTNERS among the leading law firms by the number of transactions completed in the entire CEE region since 2009. Based on annual awards of the Acquisition International magazine, HAVEL & PARTNERS has become the Law Firm of the Year 2019 in the M&A category in the CEE region.

Firm's website: https://www.havelpartners.cz/en/

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