Brief: Squirrel Media Signs Deal To Buy Vocento's Stake In NET TV And Veralia For 18 Mln Euros

Vocento SA

30/11/2021 07:03

Nov 30 (Reuters) - Squirrel Media SA  SQRL.MC :
    * SAID ON MONDAY IT HAD SIGNED AN AGREEMENT FOR THE
ACQUISITION OF
ALL SHARES HELD BY VOCENTO GROUP IN THE COMPANIES OF SOCIEDAD
GESTORA DE TELEVISIÓN NET TV S.A. AND VERALIA DISTRIBUCIÓN DE
CINE S.A.U. AT THE CLOSING PRICE OF 18 MILLION EUROS
    * THE TRANSACTION, EXPECTED TO CLOSE IN JANUARY 2022,
CONSISTS OF
THE SALE OF VOCENTO'S 55% STAKE IN NET TV, THE DTT LICENSEE AND
100% OF VERALIA DISTRIBUCION DE CINE
    * THE WALT DISNEY COMPANY IBERIA HAS BEEN OFFERED THE
POSSIBILITY
OF ACCOMPANYING VOCENTO IN THIS TRANSACTION, OFFERING THE SAME
CONDITIONS FOR THE ACQUISITION OF ITS 20% STAKE IN NET TV FOR A
VALUE OF 4.4 MILLION EUROS
    * SQUIRREL MEDIA PLANS TO FORMALISE ACQUISITION OF 75% OF
THE
COMPANY NET TV AND 100% OF VERALIA DISTRIBUCIÓN DE CINE FOR A
VALUE OF 22.4 MILLION EUROS

    Source text on Eikon:  urn:newsml:reuters.com:*:nCNM9m4RSs
    Further company coverage:  SQRL.MC  

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