The company notes that it has fully consolidated FTV Prima Holding since it acquired 50% of the business in 2005 for €87 million.
The total cash return on the investment, including dividends received and the sale price, amounts to approximately SEK1.6 billion (€59.2 million).
The sale will result in a net capital loss of preliminary some SEK110 million. All items related to FTV Prima Holding will be reported as discontinued operations in MTG’s Q2 interim report.
MTG intends to use the proceeds from the sale to increase its ownership in online games developer InnoGames from 21% to 51%.
Denemo Media is owned by Denemo Invest (75%) and Ges Media Asset (25%). It belongs to the Alphaduct group, which is 100% owned by Vladimir Komar.
GES Media is now the sole owner of FTV Prima Holding, having previously held the other 50% stake in the company.
The transaction was overseen by CSOB Bank, which also financed the deal on behalf of Denemo Media.
FTV Prima Holding is one the leading commercial TV broadcasters in the Czech Republic.
Marek Singer, CEO of Prima Group, said no major changes in Prima’s management are planned. However, the owners will continue to strategically grow the company, increasing investment in its own productions, new media and other activities.