Brief: Catena Media Agrees On Amended Terms For Assets Acquired In December 2017

Catena Media

09/07/2019 12:18

July 9 (Reuters) - Catena Media PLC  CATME.ST :
    * CATENA MEDIA AGREES ON AMENDED TERMS FOR ASSETS ACQUIRED
IN
DECEMBER 2017
    * THROUGH AMENDMENT, PAYMENT TO BE MADE IN RELATION TO
SECOND AND
FINAL EARN-OUT PAYMENT WILL BE A FIXED AMOUNT CORRESPONDING TO
IN AGGREGATE APPROXIMATELY EUR 13 MILLION, PAYABLE FULLY IN
CASH, TO BE PAID THROUGH THREE SEPARATE INSTALLMENTS UP UNTIL 1
OCTOBER 2019
    * FINAL COST OF ASSETS WILL CONCLUDE AT A LOWER LEVEL
COMPARED TO
PREVIOUS AGREEMENT
    * AGREED WITH SELLERS OF ASSETS IN GERMAN SPORTS
BETTING-FOCUSED
AFFILIATE BAYBETS LTD, ACQUIRED IN DECEMBER 2017, TO AMEND TERMS
OF SECOND AND FINAL EARN-OUT PAYMENT
    * THROUGH AMENDED TERMS CATENA MEDIA OBTAINS FULL CONTROL OF
GERMAN ASSETS (EXCEPT FOR CERTAIN SECONDARY ASSETS THAT ARE
TRANSFERRED BACK TO BAYBETS LTD) EARLIER THAN ORIGINALLY
CONTEMPLATED, AND COST CERTAINTY

Source text for Eikon:  ID:nWkr3DLWDF 
Further company coverage:  CATME.ST 

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