Iliad Purple S.A.S. completed the acquisition of 59.78% stake in Play Communications S.A. from Nationale-Nederlanden Powszechne Towarzystwo Emerytalne S.A. and other shareholders.
J.P. Morgan Securities plc acted as financial advisor and fairness opinion provider for Play Communications. Ian Bagshaw and Marc Israel of White & Case LLP (London Office), Guillaume Vitrich of White & Case LLP (Paris) and Marcin Studniarek, Rafal Kaminski, Jakub Gubanski and Grzegorz Jukiel of White & Case LLP (Warsaw Office) acted as legal advisors to Play Communications S.A. SG Corporate & Investment Banking acted as financial advisor for Iliad S.A, Julien Gayral, Yelena Trifounovitch, Olivier Assant, Florence Haas, Samuel Pariente, Aurélien Jolly and Laetitia Tombarello of Bredin Prat & Associes acted as legal advisor to Iliad Purple S.A.S. Marcin Olechowski, Agnieszka Fedor, Andrzej Motyka, Justyna Mlodzianowska, Witold Kurek, Karol Skibniewski, Slawomir Luczak, Krzysztof Kanton and Marta Kupczak-Strzelecka of So'tysi'ski Kawecki & Szl'zak and Arendt & Medernach SA acted as legal advisors to Iliad Purple S.A.S.
Iliad Purple S.A.S. completed the acquisition of 59.78% stake in Play Communications S.A. (WSE:PLY) from Nationale-Nederlanden Powszechne Towarzystwo Emerytalne S.A. and other shareholders on November 17, 2020. As a result, Iliad group collectively owns 246.1 million shares representing 96.7% stake in Play Communications and the remaining will be acquired through squeeze out. A squeeze out will be launched on December 23, 2020 for 8.5 million of the Play shares that were not tendered to the offer. The settlement is expected to take place on November 25, 2020. Play's Board of Directors has been reorganized to reflect iliad's acquisition of control over the company, and it now includes six directors put forward by iliad and three independent directors. Bruce Graham McInroy, Chairman of the Board of Directors of Play Communications along with members including Serdar Çetin, Patrick Tillieux, Ioannis Karagiannis, Vasileios Billis and Rouben Bourlas have resigned and replaced by Camille Perrin, Nicolas Jaeger and Shahrzad Sharvan as Class B Directors and Thomas Reynaud, Nicolas Thomas and Maxime Lombardini as Class C Directors. A request for Play's shares to be de-listed will be made shortly.