CETV Central European Media Enterprises Ltd

By Colin Kellaher

Central European Media Enterprises Ltd. (CETV) said it agreed to be acquired by an affiliate of Czech investment firm PPF Group N.V. for $4.58 a share in cash in a transaction valued at about $2.1 billion, including debt.

The deal represents a slight premium of about 0.6% to Central European's Friday closing price of $4.65, but the Bermuda-based media and entertainment company noted that it is a roughly 32% premium to its share price in March before it announced plans to explore strategic alternatives.

Central European said AT&T Inc. (T), its largest shareholder, has agreed to vote in favor of the transaction, which it expects to close around the middle of 2020.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

October 28, 2019 06:28 ET (10:28 GMT)

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