Oi completes sale of InfraCo for 12.9 billion Rls.

Oi completes sale of InfraCo for 12.9 billion Rls.

Hello Communication

São Paulo – Operator Oi (OIBR3;OIBR4), in judicial reorganization, on Friday (1) announced the completion of the sale of its Infraco fiber optic unit, for R$12.9 billion, to BTG Pactual and Globenet Cabos Submarinos funds.

According to a relevant fact, the contract includes a primary installment, in the amount of R$3.3 billion, a secondary installment, in the amount of R$6.5 billion, and two additional primary installments, totaling R$1.6 billion, in addition to the incorporation of the investor, in the amount of R$1.5 billion.

After these steps, shareholders will receive shares representing 57.9% of InfraCo’s voting and total share capital, with Oi and its affiliates remaining with the remaining voting participation and total share capital.

The actual conclusion of the transaction is also subject to the approval of the Administrative Council for Economic Defense (Cade) and the prior approval of Anatel, in addition to the fulfillment of the usual prior conditions for transactions of this type, stipulated in the contract.

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