Bulgaria’s Allterco Gets Shareholders Approval to Sell Units to Norway's LINK

Bulgaria’s Allterco Gets Shareholders Approval to Sell Units to Norway's LINK

Bulgaria's Allterco [BUL:A4L] said that its shareholders have approved a proposal to sell the company's five telecommunications subsidiaries to Norway's LINK Mobility Group for a price of at least 7.9 million euro ($9 million).The deal includes all shares in Allterco's units in Bulgaria - Teravoice, Tera Communications and Allterpay, as well as its Romania-based subsidiary Teracomm RO and Macedonia-based Tera Communications DOOEL, the company said in a bourse filing on Thursday. The indicative price of the deal is the combined annual adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of the five companies multiplied by 5.5. The final price will be calculated on a cash free/debt free basis. One-third of the price will be paid upon the signing of the final agreement, while a further one third will be paid as seller’s credit with quarterly payable 4.75% interest per annum and a maturity date 3 years after closing. The remaining one third will be paid in LINK Mobility Group shares, valued at the share price at close of trading on the Oslo Stock Exchange on the last trading day preceding the signing of the term sheet, which was 139.80 Norwegian crowns per LINK share.

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.