Orrick teams from the Paris, London and New York offices advised Vivendi and its subsidiary, the French television network CANAL+ Group, on the development of a strategic partnership with a rival company in Poland.
The deal involves a 40 percent acquisition of a holding company (PTH), which will be the strategic partnership vehicle owning three different businesses, including the second-largest pay-TV platform in Poland, the second-largest free-to-air TV station and the largest Polish language Internet portal. The acquisition enables Canal+ to consolidate its position in the local pay-TV market and enter the free-TV market.
The agreement signed December 19, 2011 is expected to close once antitrust approval is obtained.
Vivendi and the CANAL+ Group were advised by an Orrick team led by David Syed.