Brief: Grupo Media Capital Says Estimated Price Of 35 Mln Euros In Binding Offer To Acquire All Shares Of Cofina Media

Grupo Media Capital SGPS SA

20/07/2023 17:01

July 20 (Reuters) - Cofina SGPS SA  CFN.LS :
    * INFORMS ABOUT THE BINDING OFFER TO ACQUIRE ALL THE SHARES
OF
COFINA MEDIA
    * OBJECT OF PROPOSED TRANSACTION IS ACQUISITION OF SHARES
REPRESENTING 100% OF TOTAL SHARE CAPITAL AND CORRESPONDING
VOTING RIGHTS OF COMPANY
    * ACQUISITION VALUE FOR 100% OF COMPANY'S SHARES FREE OF
LIENS AND
ENCUMBRANCES IS BASED ON AN ENTERPRISE VALUE OF THE COMPANY IN
THE AMOUNT OF €80.0 MILLION
    * PRICE PAYABLE BY BUYER TO SELLER ESTIMATED AT PRESENT DATE
AT 35
MILLION EUROS, WILL BE SETTLED ON CLOSING DATE
    * NET DEBT IS SET AT 45 MILLION EUROS, ASSUMING NORMAL
WORKING
CAPITAL FOR COMPANY'S CURRENT ACTIVITY
    * AMOUNT BY WHICH NET DEBT EXCEEDS 45 MILLION EUROS WILL BE
WRITTEN OFF FROM PRICE

Source text: https://tinyurl.com/2ajjzzed
Further company coverage:  CFN.LS   MCP.LS 

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