Dewey and Linklaters head up landmark Polish media M&A deal
Dewey & LeBouef has taken a lead role on the biggest-ever M&A deal in the Polish media sector. The firm was instructed in the summer of 2010 by longstanding client Cyfrowy Polsat, Poland's biggest satellite TV broadcaster, to advise on its £843.9m acquisition of Polish private TV broadcaster Telewizja Polsat.
April 28, 2011 at 10:00 AM
2 minute read
Dewey & LeBouef has taken a lead role on the biggest-ever M&A deal in the Polish media sector.
The firm was instructed in the summer of 2010 by longstanding client Cyfrowy Polsat, Poland's biggest satellite TV broadcaster, to advise on its £843.9m acquisition of Polish private TV broadcaster Telewizja Polsat.
As part of the transaction, which concluded last week, the company borrowed from a syndicate of Polish and international banks via a leveraged buyout (LBO) and revolving facility structure.
Dewey's Warsaw-based M&A team was headed by managing partner Jaroslaw Grzesiak alongside local partner Daniel Kaczorowski.
The financing team was also headed by Grzesiak, in conjunction with Warsaw banking partner Andrzej Wysokinski and London corporate partner Bruce Johnston. The finance team also included Warsaw partner Marek Kozaczuk and London partner Amanda Jennings.
The banking syndicate, which was led by Citibank and included Bank Handlowy, Credit Agricole CIB and The Royal Bank of Scotland (as bookrunners), was advised by Linklaters. The magic circle firm's team was headed up by London banking partner Toby Grimstone and Warsaw finance and projects head Jaroslaw Miller.
Telewizja Polsat worked with its own internal legal team.
Grzesiak commented: "It was a very interesting deal. It was the largest LBO done in Poland so far this year and the largest-ever M&A deal in the Polish media sector. It was very satisfying to see the smooth completion of both.
"It was certainly the highlight of the past 12 months but the M&A transaction was only the second stage. How our client proceeds from the transaction will be very interesting and may serve as something even bigger."
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