The acquisition is yet to be approved by the Lithuanian Radio and Television Commission (LRTK) and a governmental commission on strategic transactions.
If the deal goes ahead, 15min group will obtain 100% of shares of radio stations M-1, Ultra Vires, Laluna and the company Reklamos Ekspertai, which are owned by Rūta Grušnienė.
With the approval of the LRTK and a governmental commission, the agreement is planned to be finalised this summer.
The transaction value is not revealed, it is financed using own and borrowed funds.
The buyer was consulted by law firm Cobalt, while the seller by Ellex and PwC.
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