Oi accepts a binding proposal from BTG from InfraCo By Reuters

São Paulo (Reuters) – OY (SA 🙂 on Monday announced its acceptance of the BTG Group’s revised binding proposal to partially acquire InfraCo, the telecom company’s fiber-optic division, that is subject to a court refund.

The binding proposal expects, on December 31 of this year, that the fixed value of InfraCo (EV) will be 20.02 billion riyals, taking into account a net debt of 4.107 billion riyals, fully owed to Oi and repaying it within 90 days of closing the operation.

The transaction is valued at R $ 12.923 billion, which, according to Oi, will be subject to adjustment mechanisms based on some InfraCo performance metrics.

Binding Proposal – Signed by Oi with Globenet Cabos Submarinos SA and BTG Pactual (SA :): Real Economy Multi-Strategy Investment Fund and other BTG Group investment funds – is also considering celebrating between InfraCo, Oi and / or its subsidiaries with capacity supply contracts and contracts The other operating, as well as the InfraCo shareholder agreement, is between the backers and Oi.

Supporters are entitled, at their own discretion, to cover the most valuable offer that can be made in the aforementioned competitive process InfraCo Partial Sale (“Right to Top”)

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(Boer Paula Arend Layer)