Brief: Squirrel Media Reaches Agreement To Buy Mondo TV's Stake In Mondo TV Studios
13/04/2023 13:13
April 13 (Reuters) - Squirrel Media SA SQRL.MC :
* HAS REACHED AN AGREEMENT FOR THE ACQUISITION OF MONDO TV
STUDIOS
* DEAL FOR POTENTIAL ACQUISITION OF ENTIRE STAKE OF MONDO TV
SPA
IN MONDO TV STUDIOS, WHICH IS 74.24%
* EXPRESSED HIS INTENTION TO ACQUIRE UP TO 100% OF CAPITAL
THROUGH
ONE OR SEVERAL CAPITAL INCREASES OF NON-MONETARY CAPITAL IN
WHICH SHAREHOLDERS OF MONDO TV STUDIOS RECEIVE SHARES BY
SQUIRREL
* AS RESULT OF TRANSACTION, IF COMPLETED, MONDO TV SPA WILL
BECOME
MINORITY SHAREHOLDER OF SQUIRREL
* VALUATION TO CALCULATE PRICE OF POTENTIAL TRANSACTION AND
EXCHANGE EQUATION WILL BE CORRESPONDING TO VALUING EACH MONDO TV
STUDIOS SHARES AT €0.31 AND EACH OF SQUIRREL'S AT €3.20
* WITH THE SIGNING OF THE BIDING LETTER OF INTENT, A PERIOD
OF
EXCLUSIVITY OF 6 MONTHS OPENS IN FAVOR OF POTENTIAL BUYER
Source text for Eikon: ID:nCNM715WqM
Further company coverage: SQRL.MC
(Gdansk Newsroom)
((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))