WARSAW – 27 February 2023 – The Court of Appeal in Warsaw fully shared the standpoint of Agora S.A. (“Agora”) and dismissed the appeal of the President of the Office of Competition and Consumer Protection (“President of the OCCP”). Thus, the Court of Appeal upheld the ruling of the District Court in Warsaw from May 12, 2022, which granted unconditional consent to Agora's acquisition of control over Eurozet sp. z o.o. (“Eurozet”). Today’s ruling is final. This allowed the transaction to be finalized and Agora acquired a controlling stake in Eurozet.
In May 2022, the District Court in Warsaw, after proceedings on Agora’s appeal, announced a judgment amending in its entirety the decision of the President of the OCCP of January 7, 2021 prohibiting Agora's acquisition of control over Eurozet. The District Court considered the arguments raised in Agora's appeal and found that the transaction would not lead to a significant restriction of competition.
In the oral reasoning for its judgment delivered today, the Court of Appeal fully upheld the findings and ruling of the District Court. The Court of Appeal confirmed that all the conditions for granting unconditional approval for the transaction had been met, while all the OCCP’s pleas were rejected.
Greenberg Traurig provided Agora with comprehensive advice in the area of competition law, in particular representing Agora in the proceedings before the President of the OCCP and the appeal proceedings before the District Court and the Court of Appeal.
The competition law team advising the company was led by Partner and Practice Head Robert Gago, supported by Senior Associate Filip Drgas and Senior Associate Anna Celejewska-Rajchert.
Agora is one of the largest and best-known media companies in Poland. The Group’s largest businesses are Helios S.A. – operator of a cinema chain, “Gazeta Wyborcza” –a national opinion-leading daily, and AMS – a leader in outdoor advertising. Agora’s shares have been listed on the Warsaw Stock Exchange since 1999.
Eurozet is one of the leading media groups in Poland, engaged in the production and broadcasting of radio programs, the sale of advertising time, brokerage activities for stations and Internet services, as well as in the creation and management of Internet services. It includes five radio stations: Radio ZET, Antyradio, Chillizet, Meloradio and Radio Plus, Internet services, Studio ZET, which produces commercials, and Eurozet Live, a brand dedicated to, among other things, marketing places and events.
Greenberg Traurig LLP
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GREENBERG TRAURIG Nowakowska-Zimoch Wysokiński sp.k. was named the 2021 Poland Firm of the Year award at the highly esteemed Euromoney Legal Media Group “Women in Business Law Awards 2021 Europe” and the 2021, 2019, 2018 Law Firm of the Year in Poland by International Financial Law Review (IFLR). 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, TMT and Antitrust/Competition.
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