Brief: NVP To Set Up JV To Provide Streaming Services On OTT Platforms

Nvp SpA

06/04/2021 06:43

April 6 (Reuters) - Nvp SpA  NVPP.MI :
    * SIGNS INVESTMENT DEAL WITH IES ITALIA FOR CREATION OF JV
AIMED
AT OFFERING INNOVATIVE STREAMING SERVICES ON OTT PLATFORMS
    * NEW JV TO BE CALLED NEW HIWAY
    * 50% OF HIWAY MEDIA SRL AND 50% OF TANGRAM TECHNOLOGIES SRL
WILL
FLOW INTO THE NEW HIWAY
    * UNDER DEAL,  NVP TO BUY 50% OF HIWAY MEDIA IN PART VIA
PURCHASE
OF SHARES FROM CURRENT SHAREHOLDERS AND PARTLY VIA SUBSCRIPTION
OF CAPITAL HIKE
    * UNDER DEAL,  NVP TO ALSO BUY 50% OF TANGRAM VIA
SUBSCRIPTION OF
CAPITAL INCREASE
    * CLOSING OF THE TRANSACTION IS EXPECTED BY 30 APRIL 2021

Source text for Eikon:  ID:nBIA9P5bFw 
Further company coverage:  NVPP.MI 

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