PPF Group to acquire Bulgarian Nova Group
PPF Group announces that it has agreed with Modern Times Group (MTG) to acquire its 95% shareholding in Nova Broadcasting Group Jsc, the Bulgarian media company.
PPF will also acquire the remaining 5% stake from Eastern European Media Holdings S.A.
Closing of the transaction is subject to regulatory approvals and is expected to take place during the first half-year 2018.
Nova is Bulgaria’s largest commercial media group and comprises 7 TV channels and 19 online businesses. Nova employs about 650 people in Bulgaria.