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United Media acquires remaining 49% of Serbia's Grand Production - report

Author Iskra Pavlova
United Media acquires remaining 49% of Serbia's Grand Production - report Photo: Grand Production

BELGRADE (Serbia), November 19 (SeeNews) - United Media, part of SEE-focused media and communications services provider United Group, has acquired the remaining 49% of Serbian record label and production company Grand Production from its co-founders, Aleksandar Popovic and pop folk singer Lepa Brena, local media reported.

The deal is expected to be finalised by the end of the year, with the two co-founders profiting 15 million euro ($16.6 million) between them from the sale of their 49% stake, news daily Kurir reported late on Monday, quoting unofficial information.

Back in 2014, Popovic and Lepa Brena sold the 51% stake in Grand Production to United Media for 15 million euro as well.

($=0.9028 euro)

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