Lagardere sells its Romanian radio stations to Czech group

The French media group Lagardere said on Tuesday it was selling some eastern European radio assets, including its Romanian radio stations, to Czech Media Invest, controlled by energy investor Daniel Kretinsky, according to Reuters.

The French group was selling radio assets in the Czech Republic, Poland, Slovakia and Romania for EUR 73 million. Lagardère owns in Romania three radio stations: Europa FM, Vibe FM and Virgin Radio.

The new owner, Czech Media Invest, assisted by multijurisdictional Clifford Chance team in closing the transaction,  said the assets it bought had consolidated revenue of EUR 56 million in 2017.

The Czech media group is the publisher of the Czech Republic’s top-selling tabloid Blesk and three other daily papers.

Kretinsky owns 50 percent of  Czech Media Invest and investors Patrik Tkac and Roman Korbacka own the remaining shares.

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