REG - Grupo Clarin S.A. - Buy out of minority shareholders in subsidiary

Grupo Clarin SAAnnouncement

25/10/2023 15:30

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RNS Number : 2988R  Grupo Clarin S.A.  25 October 2023

 

GRUPO CLARIN S.A.

Company buys out minority shareholders in subsidiary

 

On 24 October 2023, Grupo Clarín S.A. (the "Company") informed the Argentine
Securities Commission and the Buenos Aires Stock Exchange that, on that date,
the Company had accepted an offer from Ms. María Gladys Zapata de Flamarique,
Ms. María Raquel Casero de Ávila and Mr. Abel Fernando Zapata (the
"Sellers") for the purchase of (i) 881,998 common, nominative, non-endorsable
shares with a nominal value of AR$1.00 per share of Diario Los Andes Hermanos
Calle S.A. ("Diario Los Andes"), and (ii) 40% of a share held by the Sellers
in common with Compañía Inversora en Medios de Comunicación (CIMECO) S.A.
("CIMECO"), which owns the remaining 60% of that share; all of which
represents in aggregate approximately 20% of the issued and outstanding
capital stock and votes of Diario Los Andes (the "Shares").  The Company,
through CIMECO, already held 80% of the issued and outstanding capital stock
and votes of Diario Los Andes. Therefore, with the purchase of the Shares, the
Company now holds, directly and indirectly, 100% of the issued and outstanding
capital stock and votes of Diario Los Andes.

 

As consideration for the purchase of the Shares, the Company paid USD 98,400.
The price included certain rights over real estate owned by the Company.

 

Enquiries:

 

In Buenos Aires:

Samantha Olivieri / Julián Paz

Grupo Clarín

Tel: +5411 4309 7104

Email: investors@grupoclarin.com (mailto:investors@grupoclarin.com)

 

In London:

Alex Money

Jasford IR

Tel: +44 20 3289 5300

Email: alexm@jasford.com (mailto:alexm@jasford.com)

 

In New York:

Camilla Ferreira / Marcella Ewerton

Fig Corporate Communications

Tel: +1 917 691 4047

Email: fig@fig.ooo (mailto:fig@fig.ooo)

 

 

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