Brief: Mondadori Signs Put Option Granting Right To Sell Unit Mondadori France To Reworld Media

Unify

18/02/2019 16:58

Feb 18 (Reuters) - Mondadori  MOED.MI :
    * SIGNS PUT OPTION GRANTING RIGHT TO SELL UNIT MONDADORI FRANCE TO REWORLD MEDIA
    * VALUE FOR MONDADORI FRANCE HAS BEEN SET AT EUR 70 MILLION (CASH FREE/DEBT FREE), PLUS
EARN-OUT
OF EUR 5 MILLION
    * IF DEAL IS FINALIZED, NET FINANCIAL POSITION IS EXPECTED TO IMPROVE BY ABOUT EUR 58
MILLION AT
CLOSING DATE
    * 86% OF MONDADORI FRANCE VALUE WILL BE PAID IN CASH
    * REMAINING 14% OF MONDADORI FRANCE VALUE WILL BE PAID VIA ISSUE OF NEW REWORLD MEDIA SHARES
    * FOLLOWING SUBSCRIPTION TO SHARE ISSUE, MONDADORI WOULD HOLD 8%-10% OF REWORLD MEDIA

Source text for Eikon:  ID:nBIA3x76Bh 
Further company coverage:  MOED.MI 

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