Brief: Pharol Amends Deal With Oi Regarding 2015 Contingencies Letter Obligations

Pharol, SA

14/08/2026 06:18

Aug 14 (Reuters) - Pharol PHRA.LS:
SAID ON THURSDAY IT HAD ENTERED INTO AMENDMENT TO THE AGREEMENT WITH OI SA OIBR4.SA, IN JUDICIAL REORGANIZATION, CONCERNING THE OBLIGATIONS ARISING FROM THE CONTINGENCIES LETTER ENTERED INTO BETWEEN THE PARTIES IN 2015, FOLLOWING THE BUSINESS COMBINATION
UNDER THE TERMS OF THIS AMENDMENT THE PARTIES AGREED TO CLOSE THE ESCROW ACCOUNT ESTABLISHED IN 2020 AS SECURITY FOR OI'S OBLIGATIONS
AMOUNT OF €5.1 MILLION WAS TRANSFERRED TO PHAROL TO COVER THE TAX CONTINGENCIES
THE REMAINING BALANCE OF THE ESCROW ACCOUNT, AMOUNTING TO €2.8 MILLION, WILL BE TRANSFERRED TO OI AND AS A RESULT THE ACCOUNT WILL BE CLOSED 
THE CLOSURE OF THE ESCROW ACCOUNT AND THE TRANSFER OF THIS AMOUNT HAVE NO IMPACT ON PHAROL’S RESULTS
        
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