Germany's Eurocast to take over Poland's Radio WAWa
The owners of Radio WAWa have signed a final agreement with a new strategic
investor: Germany-based company Eurocast. The new shareholder purchased 33%
of WAWa from Irish Modular Investments, WAWa's former strategic investor.
After a year of looking for a new partner, Wojciech Reszczynski and
Mieczyslaw Adamski, who together hold 52% in WAWa, decided to clench a deal
with a company from the same sector. Eurocast owns five commercial radio
stations in Germany, but is making its debut on the Polish market.
National Radio and Television Council (KRRiTV) has already cleared the
companies for the deal. The value of the transaction is being kept secret
but is estimated to have reached around zl. 10 million. WAWa needs around $8
million to restructure its super-regional network. (Puls Biznesu, page 6)
J.K.
