NEW YORK, Feb. 26, 2021 /PRNewswire-PRWeb/ -- Greenberg
Traurig is advising Cyfrowy Polsat S.A. and Polkomtel sp. z o.o.
("Polsat Group") which have concluded a conditional share sale
agreement concerning a 99.99% stake in Polkomtel Infrastruktura sp.
z o.o., a subsidiary of Polsat Group, with Cellnex Poland sp. z
o.o., a subsidiary of Cellnex Telecom S.A., Europe's leading operator of
telecommunications infrastructure. The value of the transaction is
over PLN 7 billion.
Polsat Group intends to enter a long-term partnership with
Cellnex Telecom in order to accelerate the deployment of 5G
technology in Poland. The
partnership is based on the concept of active and passive
infrastructure sharing, where the mobile network operator is
predominantly interested in the end-user experience, while the
infrastructure owner is responsible for delivering the ordered
network capacity in the most cost-efficient manner. Polkomtel
Infrastruktura is the owner of Polsat Group's passive and active
access layers of mobile telecommunication infrastructure,
consisting of approx. 7,000 sites, approx. 37,000 various systems
on-air (incl. over 1 thousand 5G equipped systems) and a
transmission network.
The deal is expected to be completed in Q4 2021. The agreed
conditions precedent include, among others, obtaining consents
required under the Polsat Group's financing documentation and
obtaining antimonopoly clearance by Cellnex Poland from the
President of the Polish Office of Competition and Consumer
Protection. Once they are met, Polsat Group and Cellnex Telecom
will sign a Master Services Agreement under which Polkomtel
Infrastruktura will provide services for 25 years (subject to
renewal for subsequent 15-year terms).
"Polsat Group's simultaneous divestment of active and passive
telecoms infrastructure is yet another market-defining transaction
executed by our long-time Client with Greenberg Traurig's support.
With uncertainty still present, the telecoms sector has already
shown its resilience and strength in this new reality. The impact
of this landmark transaction is much broader than its complex
nature and unprecedented scale – it precisely displays the
underlying potential of the entire infrastructure sector to serve
as the catalyst for sustainable economic recovery. I believe an
infrastructure driven recovery will also prove to be a key driver
for other areas, such as e-commerce and renewable energy. Greenberg
Traurig is a first mover in this process," said Jarosław Grzesiak,
Managing Partner of the Greenberg Traurig Warsaw Office.
Greenberg Traurig is providing comprehensive legal advice with
respect to the transaction.
The transaction is led by Managing Partner Jarosław Grzesiak,
Partner Stephen Horvath, Partner Daniel Kaczorowski and Partner
Michał Fereniec. They are supported by Local Partner Michał
Bobrzyński and Local Partner Maciej Pietrzak along with Senior
Associates Paulina Kimla-Kaczorowska, Marek Kłeczek and Agnieszka
Stopińska. The due diligence team included Local Partner Justyna
Szwech, Counsel Barbara Pancer,
Senior Associates Tomasz Denko, Maja Gawrysiuk, Mateusz Koronkiewicz and Magdalena
Bachleda-Księdzularz, and Associates Angelika Makar, Alicja
Walerjan, Katarzyna Goljan, Iga
Czerniak and Aleksander Kłys.
Polsat Group is one of the largest Polish companies and a
leading media and telecommunications group in the region. The Group
provides its 5.6 million customers with access to 17.4 million
services: mobile phone services, pay digital TV and the Internet.
The Group includes the following companies and brands: Cyfrowy
Polsat, Polkomtel, Telewizja Polsat, Netia, Interia and IPLA.
Cellnex Telecom is Europe's
leading operator of wireless telecommunications and broadcasting
infrastructure with a portfolio of more than 128,000 sites, 75,000
of which are already in the portfolio, and the remainder are in the
process of finalization or planned roll-outs by 2028. Cellnex
operates in Spain, Italy, the
Netherlands, France,
Switzerland, the UK, Ireland, Portugal, Austria, Denmark and Sweden, and shortly in Poland.
Greenberg Traurig LLP
Greenberg Traurig, LLP is an international, multi-practice law
firm with approximately 2200 attorneys serving clients from 40
offices in the United States,
Latin America, Europe, Asia,
and the Middle East.
Greenberg Traurig Grzesiak sp.k. was named the 2019 and 2018
Most Innovative Law Firm of the Year Award for Poland by International Financial Law Review
(IFLR) and the 2017 Law Firm of the Year in Poland by Chambers and Partners. The
Warsaw office of Greenberg
Traurig, LLP provides legal services to clients in Central Europe and beyond and consists of
approximately 100 lawyers. Team members are regularly recognized as
leaders in numerous practice areas. Chambers Global, Chambers
Europe, IFLR1000 and EMEA Legal 500 consistently rank them among
the top tiers the areas of Corporate/M&A, Capital Markets, Real
Estate, Private Equity, Tax, Banking and Finance, Project Finance,
Energy, Dispute Resolution and TMT.
For additional information, please visit
http://www.gtlaw.com.
Media Contact
Lourdes Brezo Martinez, Greenberg
Traurig, LLP, 212-801-2131, martinezl@gtlaw.com
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SOURCE Greenberg Traurig, LLP