May 23, 2017 / 7:06 AM / 4 months ago

BRIEF-Catena Media buys casino affiliate Newcasinos.com

May 23 (Reuters) - CATENA MEDIA PLC

* CATENA MEDIA ACQUIRES CASINO AFFILIATE NEWCASINOS.COM

* TRANSFER OF ASSETS AND PAYMENT IS SCHEDULED TO TAKE PLACE NO LATER THAN 15THOF JULY 2017.

* ACQUIRED ASSETS ARE EXPECTED TO GENERATE QUARTERLY SALES OF ABOUT EUR 550.000 WITH AN OPERATING MARGIN OF AROUND 80 PERCENT.

* PURCHASE PRICE AMOUNTS TO AN UPFRONT PAYMENT OF EUR 7.650.000, WHICH IS BEING PAID AS A CASH CONSIDERATION IN CONJUNCTION WITH TRANSFER OF ASSETS

* IN ADDITION, THERE IS AN EARN-OUT OF MAXIMUM EUR 4.250.000, WHICH IS BASED ON REVENUE PERFORMANCE OVER A PERIOD OF 12 MONTHS. Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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