Brief: Seven West Media Enters Conditional Share Sale Deal To Prime Media Group

PRT

01/11/2021 01:26

Nov 1 (Reuters) - Prime Media Group Ltd  PRT.AX :
    * ENTERED INTO A CONDITIONAL SHARE SALE AGREEMENT TO ACQUIRE
ALL
BUSINESS AND RELATED ASSETS OF PRIME MEDIA GROUP
    * VALUE OF PRT AT BID PRICE IS A$131.9 MILLION
    * PRT HAS INDICATED THAT ITS BOARD INTENDS TO UNANIMOUSLY
RECOMMEND TO VOTE IN FAVOUR OF PROPOSAL
    * COSTS SAVINGS ARE EXPECTED TO BE FULLY REALISED WITHIN 12
TO 18
MONTHS FROM COMPLETION OF ACQUISITION
    * SEES GENERATING ESTIMATED COST SYNERGIES OF A$5 MILLION TO
A$10
MILLION ON AN ANNUALISED BASIS

Source text for Eikon:  ID:nASX2mvJDG 
Further company coverage:  PRT.AX 

 ((Reuters.Briefs@thomsonreuters.com;))