Walkers Acts on PPF's Acquisition of CME

Walkers has acted as Bermuda counsel to PPF on the contemplated acquisition of Central European Media Enterprises Ltd ("CME") to be effected by way of a merger under Bermuda law. The transaction is subject to customary closing conditions, including the approval of the CME shareholders, the European Commission and national regulators in certain countries where CME is active.

CME is active in five European countries and is one of the leading media and entertainment companies in Central and Eastern Europe. It broadcasts over 30 TV channels, both over-the-air and paid formats, to over 45 million viewers.

PPF Group invests in multiple market segments such as financial services, telecommunications, biotechnology, real estate and mechanical engineering. The reach of PPF Group spans from Europe to North America and across Asia.

Walkers' Bermuda office worked alongside White & Case LLP in Prague and New York and was led by partners Jonathan Betts and Natalie Neto with senior counsel Paul Nystrom, senior associate Rachel Nightingale and associate Ben Green completing the Bermuda corporate team.