International law firm Weil, Gotshal & Manges was legal counsel to Montagu Private Equity, a leading European private equity firm, and other selling shareholders in connection with the transaction announced on December 2, 2013 the sale of a 100% stake in Emitel sp. z o.o., the leading terrestrial radio and TV broadcast infrastructure operator in Poland, to funds managed by Alinda Capital Partners, one of the world’s largest infrastructure investment funds, for an undisclosed sum. This was Poland’s largest ever private equity transaction.
An interdisciplinary team of Weil attorneys advised Montagu Private Equity on all stages of the transaction, including the vendor due diligence of Emitel, regulatory matters, invitations to potential buyers, evaluation of purchase bids received, and, finally, on the drafting, negotiating and execution of the transaction documentation, including the share purchase agreement.
The core members of the transaction team included: Paweł Zdort, a partner in the Corporate Department specializing in M&A, private equity and capital markets transactions; Piotr Tomaszewski, a partner and head of Weil’s Private Equity practice in Poland; Paweł Rymarz, Managing Partner of the Warsaw office; and Jacek Balicki, a legal adviser and senior associate in Weil’s Corporate Department specializing in M&A, private equity and TMT (telecommunications, media and technology) sector transactions.
The other key members of the team included: senior associates Aleksandra Dobrzyńska-Grezel and Monika Kierepa and associates Filip Leśniak, Karol Kicun, Jerzy Bombczyński and Wojciech Czyżewski from the Corporate practice; counsel Joanna Petersen and associates Dawid Kulpa and Piotr Fedorowicz from the Real Estate and Construction practice; senior associate (appointed partner effective January 1, 2014) Iwona Her and associate Irmina Trybalska from the Anti-Monopoly and Competition Law practice; as well as Robert Krasnodębski, partner and head of the Tax practice in the Warsaw office, and Marek Kanczew, senior associate and tax adviser.
“This transaction, which set a new record for private equity deals in Poland, shows a growing interest of infrastructural funds in the Polish market. The main challenge of the project was its breathtaking pace, from the vendor due diligence of Emitel, to negotiations with potential buyers, and finally to the signing of the purchase agreement,” Paweł Zdort commented.
“This is yet another record-breaking private equity transaction on the Polish market advised on by Weil, following such deals as, for example, sale of CTL Logistics to Bridgepoint, sale of LUX MED by Cornerstone Partners to Mid Europa Partners, or sale of Aster by Lion Capital to Mid Europa Partners, which confirms Weil’s position as a leading advisor on the private equity transaction market in major acquisitions and exits in Poland,” Piotr Tomaszewski added.
