Central European Media Enterprises Ltd (CME) has entered into an agreement with Harley Trading Limited, a company beneficially owned by Ihor Kolomoisky, to sell 100% of television channels Studio 1+1 and Kino, reads a statement made CME. According to the statement, the bargain costs USD 300 million.
The transaction is expected to close in the second half of April 2010. Moreover Kolomoisky has to pay an estimated USD19 million extra to fund cash expenses of the Studio 1+1 group between signing and closing of the transaction.
The purchaser will make a payment of USD 30 million to CME on February 1, 2010 and the balance of the purchase price will be paid at closing.
As Ukrainian News earlier reported, CME in July 2009 agreed with co-owner of PryvatBank Kolomoisky on sale of 49% of its Ukrainian operations to him (Studio 1+1, 1+1 International, Kino), to which the Ukrainian businessman had to add 100% of the TV channel TET.
Kolomoisky also got an option for acquiring the rest of 51% of these assets for USD 300 million in one year after closing the deal.
After than CME said the sides expected to close the transaction by October but never reported the closing.
