LONDON – LAWFUEL – Law News Network – Allen & Overy are advising Liberty Global Inc. on the €322.5 million purchase of Karneval s.r.o. and Forcecable s.r.o. (“Karneval”), the second largest cable operator in the Czech Republic, through the arrangement outlined below. It is anticipated that the transaction, which required multi-jurisdictional advice, will complete towards the end of this year, subject to regulatory approval.
The acquisition of Karneval, which offers cable television and broadband services to residential customers, will consolidate Liberty’s leading position in the Czech Republic.
Liberty has entered into an equity derivative instrument to buy, subject to regulatory approval, Unite Holdco III B.V. (“Unite”), which is jointly owned by a JPMorgan affiliate and Deutsche Bank AG, London branch. Unite has entered into a share purchase agreement to acquire, subject to the approval of the Czech Broadcasting Authority, Karneval from ICZ Holding B.V., which is majority owned by Mid Europa Partners, for €322.5 million (subject to post-completion adjustments).
Corporate partner Alistair Asher led the Allen & Overy team with assistance from Karen Hendy (in London) and Jeroen Bleeker and Gerard Kastelein (in Amsterdam). Partner, Paul Glazener and Pavel Urban provided regulatory advice, and assistance in the Czech Republic was provided by partner Jane Townsend and Ivana Petirova.
Commenting, Alistair Asher said: “We are delighted to be advising Liberty Global on this important acquisition. We have recently advised Liberty on deals in Norway, Sweden and France and we are very pleased to continue working with them.”
For further information please contact Sarah Fitzpatrick ([email protected]) on +44 (0)20 7330 2395.