Brief: Prisa Lowers Sale Price Of Media Capital To Cofina To 123 Mln Euros

Grupo Media Capital SGPS SA

24/12/2019 06:53

Dec 24 (Reuters) - Promotora de Informaciones SA  PRS.MC :  
    * SAID ON MONDAY AGREED WITH COFINA  CFN.LS  TO LOWER THE
SALE
PRICE OF PRISA'S 100% STAKE IN VERTIX, OWNER OF 94.69% INTEREST
IN MEDIA CAPITAL  MCP.LS  
    * SETS FINAL PRICE OF TRANSACTION AT 123.3 MILLION EUROS,
BASED ON
ENTERPRISE VALUE OF 205 MILLION EUROS
    * SAYS TRANSACTION WILL IMPLY ADDITIONAL ACCOUNTING LOSS OF
ABOUT
54.3 MILLION EUROS IN PRISA'S CONSOLIDATED AND INDIVIDUAL
ACCOUNTS
    * SAYS PROCEEDS OBTAINED FROM TRANSACTION WILL BE USED TO
REPAY
THE GROUP'S DEBT, ACCELERATING DELEVERAGING PLAN OF COMPANY
    * SAYS PARTIES ESTIMATE THAT SATISFACTION OF ALL REMAINING
CONDITIONS WILL TAKE PLACE IN Q1 2020
    * SAYS EXECUTION OF TRANSACTION IS STILL PROGRESSING
FAVOURABLY,
REMAINING SUBJECT TO OBTAINING AUTHORIZATION BY PORTUGUESE
ANTITRUST AND REGULATORY AUTHORITIES, AMONG OTHERS


 Source text for Eikon:  urn:newsml:reuters.com:*:nCNMbYd9Kz
    
 Further company coverage:  PRS.MC  
   
    

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