Swedish MTG sells stake at FTV Prima
Modern Times Group (MTG), a Swedish digital entertainment company, has agreed to sell its 50% shareholding in FTV Prima Holding, the second largest private Czech broadcaster, in a transaction valued at EUR 116 million. The buyer, Denemo Media, is a Czech joint venture between Denemo Invest, controlled by businessman Vladimír Komár via Alphaduct, and GES Media Asset owned by Ivan Zach. This transaction, which is 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.
Baker McKenzie assisted with the financial part of the transaction, having advised Československá obchodní banka, a leading Czech bank, in relation to provision of a loan facility to the buyer for the purpose of financing of the acquisition.
The Baker McKenzie team in Prague advising on the financing consisted of partner Libor Basl, who led the team, and associates Lukáš Hron, Dušan Hlavatý and Petr Vojtěch.
MTG is a leading international digital entertainment group whose brands span 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.