Sale of controlling stake

On June 21, 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. 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.

Vasil Kisil & Partners have acted as counsel for the establishment of the corporate structure and large М&А transactions of UMH group over the past 10 years, and have advised the group on corporate, capital markets, intellectual property, competition and dispute resolution issues.