Brief: Comp Signs Agreement to Sell Paytel

Comp SA

20/06/2018 07:12

June 20 (Reuters) - COMP SA  CMP.WA :
    * SAID ON TUESDAY THAT IT HAS SIGNED AN AGREEMENT WITH UNIT
OF
LISBON-BASED SIBS-SGPS SA GROUP TO SELL ITS UNIT, PAYTEL SA, FOR
NO LESS THAN 34 MILLION ZLOTYS
    * THE MAXIMUM PRICE WILL BE SET ON THE BASIS OF THE PAYTEL
RESULTS
OVER 2018-2020 AND WILL NOT BE HIGHER THAN 200 MILLION ZLOTYS
    * AT THE TIME OF SIGNING THE DEAL, THE COMPANY SOLD 42,449
SHARES
REPRESENTING 55 PERCENT OF SHARE CAPITAL IN PAYTEL FOR 34
MILLION ZLOTYS
    * THE MINORITY STAKE OF 45 PERCENT WILL BE SOLD IN THREE
TRANCHES,
THE FINAL TRANSACTION SETTLEMENT BETWEEN THE PARTIES WILL TAKE
PLACE IN 2021
    * UNDER THE AGREEMENT PAYTEL AND COMP TO COOPERATE WITH EACH
OTHER
OVER THE NEXT FIVE YEARS

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM1vp4mha
    
 Further company coverage:  CMP.WA  
   


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