Press Release
| April 15, 2008
Dewey & LeBoeuf Advises on €490 Million Greek Telecommunications Acquisition
(London - 15 April 2008) - Dewey & LeBoeuf is advising Forthnet S.A., the leading Greek telecommunications operator, in connection with its acquisition of NetMed, the leading subscriber TV service in Greece and operator of the Nova subscriber TV platform.
Forthnet agreed to acquire the entire share capital of NetMed N.V. and Intervision (Services) B.V. from Myriad International Holding B.V., a wholly-owned subsidiary of Naspers, the South African-based international media group, and Teletypos, the Greek media group. The acquisition agreement was signed on Monday 14 April 2008. The consideration for the acquisition is €490 million (US$770 million). Completion of the transaction is subject to a number of conditions, including regulatory approvals.
The Dewey & LeBoeuf team was led by corporate partners George Barboutis and Simon Briggs, supported by associates Leanne Cox, Malissa Ritchie, Ellen Stanborough and Michael Chan. All are based in the London office.
Partner George Barboutis commented: "We are very pleased to advise Forthnet on this major acquisition in Greece. There is a clear trend of integration of telecommunications, Internet and media services and, given our strong experience in both telecommunications and media, we are particularly well placed to advise clients on significant transactions in these sectors."
Forthnet's Greek legal advisors were M. & P. Bernitsas Law Offices.
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This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Dewey & LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent.
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