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BRIEF-Medicontech sells Mediacontech Broadcast and its unit SBP to Europa Investimenti
September 26, 2017 / 10:05 AM / 21 days ago

BRIEF-Medicontech sells Mediacontech Broadcast and its unit SBP to Europa Investimenti

Sept 27 (Reuters) - MEDIACONTECH SPA:

* SAID ON MONDAY IT HAD RESOLVED TO SELL ITS STAKE IN MEDIACONTECH BROADCAST, WHICH OWNS 100 PCT OF SBP, AS WELL AS PART OF ITS CREDITS TO EUROPA INVESTIMENTI

* MEDIACONTECH BROADCAST TO RECEIVE 830,000 EURO FINANCING

* TO SELL TO EUROPA INVESTIMENTI 100 PCT OF MEDIACONTECH BROADCAST FOR THE SYMBOLIC AMOUNT OF ONE EURO

* TO SELL TO EUROPA INVESTIMENTI EUR 1.1 MLN IN CREDITS FOR THE SYMBOLIC AMOUNT OF ONE EURO

* EUROPA INVESTIMENTI WILL IN EXCHANGE INDEMNIFY MEDIACONTECH AGAINST THE GUARANTEES IT ISSUED IN FAVOUR OF SBP FOR EUR 1 MLN

* EUROPA INVESTIMENTI WILL ALSO FILE A COMPOSITION WITH CREDITORS FOR SBP WHICH DOES NOT REQUIRE ANY FURTHER FINANCIAL SUPPORT FROM MEDIACONTECH

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Further company coverage: (Gdynia Newsroom)

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