We are pleased to announce that we represented SFS Ventures, based in Prague, in the process of the sale of a 49% stake in Eurozet to Agora. This is the final stage of an investment process on which Rymarz Zdort Maruta had been advising from the very beginning. The process commenced in February 2019 with the acquisition from Czech Radio Center by SFS Ventures and Agora of stakes representing 60% and 40% of the shares in Eurozet, respectively. At the same time, SFS Ventures and Agora entered into a shareholders’ agreement regarding Eurozet that regulated in detail, among other things, the rules for SFS Ventures’ exit from the investment, including the possibility of Agora purchasing the stake held by SFS Ventures.
In performance of the shareholders’ agreement, in February 2023, SFS Ventures sold an 11% stake in Eurozet to Agora. This stage of the transaction was effected after Agora obtained unconditional approval to acquire control of Eurozet. As a result, Agora’s stake in Eurozet increased from 40% to 51%, while SFS Ventures’ stake decreased from 60% to 49%.
SFS Ventures has now sold its remaining 49% stake in Eurozet to Agora, ending its investment in the company. The sale price for such 49% stake in Eurozet amounted to EUR 38,750,000.
“Our sincerest congratulations to all of the parties involved on the completion of a transaction of such magnitude! It was and will continue to be significant not only for business reasons, but also because of its positive impact on media pluralism in Poland“, said Dr. hab. Łukasz Gasiński. “It was a great honour for us to work on such an interesting and multi-faceted project, which was precedent-setting for the Polish market“, added Dr. Adam Puchalski.
The transaction team included Dr. hab. Łukasz Gasiński (partner), Dr. Adam Puchalski (counsel) and Adrian Więsław (senior associate).