Central European Media to Be Acquired for $4.58/Share

By Colin Kellaher

Central European Media Enterprises Ltd. (CETV) said it agreed to be acquired by an affiliate of Czech investment firm PPF Group N.V. for $4.58 a share in cash in a transaction valued at about $2.1 billion, including debt.

The deal represents a slight premium of about 0.6% to Central European's Friday closing price of $4.65, but the Bermuda-based media and entertainment company noted that it is a roughly 32% premium to its share price in March before it announced plans to explore strategic alternatives.

Central European said AT&T Inc. (T), its largest shareholder, has agreed to vote in favor of the transaction, which it expects to close around the middle of 2020.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

October 28, 2019 06:28 ET (10:28 GMT)

Central European Media E... (NASDAQ:CETV)
Historical Stock Chart
From Jan 2025 to Feb 2025