July 9, 2020 / 9:22 AM / a month ago

BRIEF-Cellularline Buys 80% Of Worldconnect For CHF 15.8 Mln

July 9 (Reuters) - Cellularline SpA:

* BUYS 80% OF WORLDCONNECT AG (CH)

* CONSIDERATION FOR THE ACQUISITION IS CHF 15.8 MILLION (APPROX. EUR 14.8 MILLION)

* THE TWO CO-CEOS OF WORLDCONNECT AG WILL MAINTAIN THEIR ROLE

* TRANSACTION IS EXPECTED TO BE EXECUTED BY END OF JULY 2020

* CONSIDERATION WILL BE FINANCED WITH CELLULARLINE’S AVAILABLE RESOURCES AND PAID IN TWO INSTALMENTS

* CHF 10 MILLION (APPROX. EUR 9.3 MILLION) AT CLOSING AND CHF 5.8 MILLION (APPROX. EUR 5.4 MILLION) TWELVE MONTHS AFTER CLOSING

* UNDER THE DEAL, CELLULARLINE AND MINORITY SHAREHOLDERS OF WORLDCONNECT WILL HAVE POWER TO EXERCISE THEIR RESPECTIVE PUT & CALL OPTIONS OVER REMAINING MINORITY SHARE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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