The claim made on Tuesday by Mr Solak “is without merit and we will defend it robustly,” United Group said.
The statement reads: “No injunction or court order has been obtained. The Group is not subject to any restriction that would prevent it from conducting its business as it sees fit in the best interest of all shareholders, and it will not be distracted by Mr Solak’s repeated attempts to disrupt progress through litigation and misleading media briefings. Under our stewardship, the news assets within Adria News Network (which represent approximately less than 0.6% of Group EBITDA) have been placed within an independent governance structure with a fully independent board and Editorial Council. There has not been a single change to newsroom decision-making at any title.”
They added that United Group remains focused “on creating and delivering value for all of its shareholders, and on the strong operational momentum reflected in our recent results.”
Dragan Solak, the founder and minority shareholder of United Group, and former CEO Victoriya Boklag have initiated legal proceedings against three entities controlled by BC Partners. The move aims to halt the sale of United Group’s media business, which they say is being carried out in violation of the Shareholders’ Agreement.
According to their statement, the legal remedy sought by Solak and Boklag includes a ruling that the sale of United Media constitutes a material change in the nature of the business of United Group, as well as an injunction to prevent any such sale from proceeding without their consent.
Source: N1
