PPF Group announces that its fully-owned subsidiaries have signed an agreement with Central European Media Enterprises Ltd. to acquire Central European Media Enterprises (CME).
CME has announced that the cash transaction is valued at approximately 2.1 billion US dollars.
CME operates television stations in Bulgaria, the Czech Republic, Romania, Slovakia, and Slovenia.
Petr Kellner commented on the transaction: “The acquisition of CME with its media assets in five European countries will complement and further strengthen our telecommunications operations in Central and Eastern Europe. We want to leverage the natural synergies between the creation of content and its distribution with the objective of further developing our telecommunications and media businesses. CME is a healthy and well-run organization and we do not intend to make any significant changes to its operations.”
Kellner’s PPF owns assets ranging from lenders to real estate and telecommunications in Europe and Asia, including Czech telecom operator O2 Czech Republic and global consumer lender Home Credit.
About PPF Group
PPF Group invests in multiple market segments such as financial services, telecommunications, biotechnology, real estate and mechanical engineering. The reach of PPF Group spans from Europe to North America and across Asia. PPF Group owns assets exceeding EUR 45 billion (as of December 2018).
CME is a media and entertainment company operating leading businesses in five Central and Eastern European markets with an aggregate population of approximately 45 million people. CME’s operations broadcast 30 television channels in Bulgaria, the Czech Republic (Nova, Nova 2, Nova Cinema, Nova Sport 1, Nova Sport 2, Nova International, Nova Action and Nova Gold), Romania, the Slovak Republic, and Slovenia.