Brief: Exprivia Submits Binding Offer In Support Of Italtel's Proposal For Ongoing Arrangement

Exprivia SpA

24/12/2020 08:27

Dec 24 (Reuters) - Exprivia SpA  XPR.MI :
    * SAID ON WEDNESDAY IT SUBMITTED BINDING OFFER AS PART OF
PROCEDURE FOR ARRANGEMENT WITH CREDITORS OF ITALTEL 
    * OFFER TO PROVIDE COMMITMENT TO SUBSCRIBE RESERVED CAPITAL
INCREASE OF ITALTEL FOR EUR 20 MLN 
    * OFFER TO PROVIDE FINANCIAL RESOURCES FOR AROUND EUR 13 MLN
BY
VAT AND IRES TAX CREDITS FROM GROUP TAX CONSOLIDATION 
    * OFFER TO PROVIDE PUT OPTION, TO BE EXECUTED AFTER 2023, TO
STRATEGIC CREDITORS TO RECOVER PART OF RECEIVABLE SUBJECT TO
WRITE-OFF (UP TO 15%) 
    * TO RETAIN 88% STAKE IN ITALTEL'S SHARE CAPITAL UPON
COMPLETION
OF HOMOLOGATION

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nBIA4r3lq8
    
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