Brief: Cellularline Buys 80% Of Worldconnect For CHF 15.8 Mln

Cellularline SpA

09/07/2020 10:19

July 9 (Reuters) - Cellularline SpA  CELL.MI :
    * BUYS 80% OF WORLDCONNECT AG (CH)
    * CONSIDERATION FOR THE ACQUISITION IS CHF 15.8 MILLION
(APPROX.
EUR 14.8 MILLION)
    * THE TWO CO-CEOS OF WORLDCONNECT AG WILL MAINTAIN THEIR
ROLE
    * TRANSACTION IS EXPECTED TO BE EXECUTED BY END OF JULY 2020
    * CONSIDERATION  WILL BE FINANCED WITH CELLULARLINE’S
AVAILABLE
RESOURCES AND PAID IN TWO INSTALMENTS
    * CHF 10 MILLION (APPROX. EUR 9.3 MILLION) AT CLOSING AND
CHF 5.8
MILLION (APPROX. EUR 5.4 MILLION) TWELVE MONTHS AFTER CLOSING
    * UNDER THE DEAL, CELLULARLINE AND MINORITY SHAREHOLDERS OF
WORLDCONNECT WILL HAVE POWER TO EXERCISE THEIR RESPECTIVE PUT &
CALL OPTIONS OVER REMAINING MINORITY SHARE

Source text for Eikon:  urn:newsml:reuters.com:*:nBIA930hwS
Further company coverage:  CELL.MI 

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