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Noerr advises publisher Verlagsgruppe Passau on sale of Czech publishing business

Noerr has advised publisher Verlagsgruppe Passau on the sale of its Czech publishing business to the financial investor Penta.

The parties have agreed not to disclose the volume of the transaction. The sale still requires the clearance of the Czech antitrust authorities. The transaction includes all shares in the Prague-based Vltava-Labe-Press, as (VLP) as well as its subsidiaries and shareholdings in the Czech Republic and Slovakia. VLP publishes “Denik” , one of the best-known newspapers in the Czech Republic, as well as numerous magazines via its subsidiaries, including the Czech edition of “National Geographic”.
 
With activities in Germany, Poland and the Czech Republic and a work force of more than  4,700, Verlagsgruppe Passau is among the largest European publishers of regional daily newspapers. Its portfolio, including the daily Passauer Neue Presse, reaches more than 10 million readers every week.
 
The financial investor Penta was established in 1994 and has offices in Prague, Bratislava, Warsaw and  Munich. In 2014, the Penta Group managed assets worth EUR6.7 billion.
 
The Noerr team led by the London Partner Dr Thomas Schulz (pictured) has advised Verlagsgruppe Passau comprehensively on all legal aspects of the transaction. This in particular included the negotiation of the share purchase agreement and advice in connection with the local sales process in the Czech Republic.
 

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