Pestalozzi advises Ringier AG in connection with the acquisition of all shares of Axel Springer in Hungary, Serbia, Slovakia, Estonia, Latvia and Lithuania
Ringier Axel Springer Media AG, formed in 2010, is a joint venture between Ringier AG and Axel Springer SE and one of the largest modern media companies in Central and Eastern Europe. Ringier has signed definitive agreements to acquire all shares of Axel Springer in the joint venture, covering Hungary, Serbia, Slovakia, Estonia, Latvia and Lithuania. In the future, Axel Springer and Ringier will focus their efforts as joint venture partners in Eastern Europe exclusively on the Polish Market.
The transaction is expected to close in the second half of 2021 subject to usual closing conditions. Pestalozzi advises Ringier AG with respect to all Swiss legal aspects of this transaction.