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. 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.
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. Founded in Sweden, the company’s shares are listed on Nasdaq Stockholm. 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.
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.
Baker McKenzie did not reply to our inquiry about counsel for Denemo Media on the financing and the underling transaction, nor for Modern Times Group.
