New York – August 29, 2006 –LAWFUEL – Legal News & Law Jobs – Debevoise & Plimpton LLP is advising Ronald S. Lauder, Non-Executive Chairman of Central European Media Enterprises Ltd. (“CME”), in an agreement under which funds advised by Apax Partners (“Apax”) will acquire a 49.7% stake in the interests in CME owned by Ronald Lauder and related parties for approximately $190 million in cash. Apax will become a limited partner in a partnership holding all of the Lauder interests in CME. The remaining 50.3% interest in the partnership will be beneficially owned by Ronald Lauder and his family. The deal is expected to close on September 1.
CME is a TV broadcasting company with leading networks in six Central and Eastern European countries reaching an aggregate of approximately 82 million people. Apax Partners is one of the world’s leading private equity investment groups. Debevoise & Plimpton LLP is a leading international law firm with offices in New York, Washington D.C., London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai.
The Debevoise team is led by partner Gregory V. Gooding and includes partners William B. Beekman, Peter A. Furci, Bruce D. Haims and George E.B. Maguire and associates Yoeli Barag and Charles E. Wachsstock.