Canal+ Group, represented by Orrick, and ITI Group sold their majority stake in Poland’s largest broadcaster TVN group to US media group Scripps Networks Interactive. Canal+ is the leading pay-TV company in France and, along with ITI, is selling the approximately 53% stake in an €584 million all cash deal plus €300 million of debt. The deal remains subject to anti-trust approval and is expected to complete this summer. This acquisition by Scripps Networks Interactive increases its foothold in Europe.
The Orrick team was led by Corporate partner Jinal Shah (London) and included Tax partner Ed Denny, Corporate associate Katie Cotton, Technology Companies Group associate Emma Raleigh, Tax associate Will Gay as well as David Griffiths.
To see the Canal+ press release click here.