Bulgaria's Allterco Signs Deal to Sell 5 Units for 7.9 Mln Euro to Norway's LINK

Bulgaria's Allterco Signs Deal to Sell 5 Units for 7.9 Mln Euro to Norway's LINK

Bulgaria's Allterco said on Monday that it has signed an agreement to sell five of its telecommunications subsidiaries to Norway's LINK Mobility Group for an indicative price of 7.9 million euro ($9.0 million).The final price will be determined on a cash-free/debt-free basis after correction of the companies' preliminary financial statements, Allterco said in a bourse filing. The deal concerns 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. Upon completion of the transaction, Allterco will get 60% of the price in cash. A further 20% will be paid on a deferred basis within two years, while the remaining 20% will be paid by transferring rights for purchase of shares in Victory Partners VIII Norway Holding - the sole owner of LINK Mobility Group.

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