NEWS (June 25, 2013)

Vasil Kisil & Partners advised UMH Group in the Sale of 98% of the Media Holding Stock

On 21 June  2013 UMH group owners and a VETEK group affiliate signed a purchase and sale agreement for 98% of UMH group shares. VETEK also intends to acquire minority shareholders’ shares in a number of particular UMH projects.

Vasil Kisil & Partners represented the seller in this transaction. This matter is handled by partners Oleksiy Filatov and Anna Babych and senior associate Oksana Krasnokutska. Wragge & Co advises the seller on English law.

It is planned that the transaction shall be closed in the first quarter of 2014. Until closing the owners and management of UMH group stay unchanged. An independent English law firm is engaged as escrow agent to keep the shares of the holding company.

UMH group controls a number of media brands in press, radio and the Internet in Ukraine and Russia, including Korrespondent, Forbes, Telenedelya, Komsomolskaya Pravda v Ukraine, Argumenty i Fakty v Ukraine, Komanda, Football and Vogue.  UMH also owns Nashe Radio, Autoradio, Europa Plus, Retro FM, Radio Alla as well as several local radio stations.

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