goetzpartners advised Media Regionalne sp. z o.o. and its shareholder Mecom Group plc on the sale of shares in the companies which operate the Polish Radio Gra stations (Radio Gra Group) - goetzpartners advised Mecom Group plc on the sale of Media Regiona
Stephen Davidson, Executive Chairman of Mecom, said: “Although our management team and employees in Poland have done an impressive job of mitigating the pressure on advertising and circulation revenues, Media Regionalne is a sub-scale business in a challenging market. A sale to Polskapresse will enable important industry consolidation to take place, and we believe is also in the best interests of our shareholders.”
The Media Regionalne transaction is conditional upon, amongst other things, approval from the Polish Competition Authority. The Radio sale was completed on 15 March 2013.
Mecom expects to receive total cash proceeds of approximately PLN 88 million (€21 million) following completion of the Media Regionalne transaction.