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Generali Investimenti Holding Makes Binding Proposal to Acquire Entire Holding of Clear Leisure PLC in Mediapolis SpA


Friday, 22 Nov 2013 02:00am EST 

Clear Leisure PLC (Clear Leisure) announced that the Company has received an unsolicited, but binding and fully-financed offer (the Binding Proposal) to acquire the Company’s entire holding (directly and indirectly held by the Company) in Mediapolis SpA (Mediapolis). This Binding Proposal has been made by Generali Investimenti Holding (Generali). In the event that the offer is accepted by the Board of Clear Leisure, Generali has the option to pay for the Company’s holding in Mediapolis in one or other of the following ways: EUR 20 million in cash, of which EUR 7 million will be payable to Clear Leisure immediately on closing, with the balance of EUR 13 million being used to settle Mediapolis outstanding debts; or EUR 30 million in a mixture of cash and assets, of which EUR 13 million in cash will be used to settle Mediapolis’ outstanding debts and EUR 17 million of unencumbered Real Estate Assets will be transferred to Clear Leisure. 

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19 Dec 2014