PPF Group announces that its fully owned subsidiaries have completed the acquisition of Central European Media Enterprises.
PPF now holds full control of CME’s operations in the Czech Republic, Romania, Slovakia, Slovenia, and Bulgaria.
This transaction was subject to regulatory approval by the European Commission, national regulators in certain countries, and CME shareholders.
Shares on the NASDAQ Global Select Market and Prague Stock Exchange have been delisted and now cease to exist following the completion of the acquisition.
Holders of CME’s Class A Common Shares immediately prior to the effective time of the merger will receive $4.58 per share.
Didier Stoessel is the new CEO
Didier Stoessel will assume the position of chief executive officer at CME, responsible for the Czech, Romanian, Slovak, and Slovenian markets.
Didier Stoessel has extensive strategic and senior management experience in media, technology, and global finance and previously worked for Modern Times Group, HSBC Investment Bank, and Merrill Lynch International.
Lubos Jetmar has been named CEO CME Bulgaria responsible for operations, strategy, and growth development plans in Bulgaria.
CME operates television stations in the Czech Republic, Romania, Slovakia, Slovenia and Bulgaria and is one of the leading media and entertainment companies in Central and Eastern Europe.
CME broadcasts 30 television channels, both free and paid, and reaches a total of 45 million viewers.