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Ventura Capital Privado SA de CV Makes Offer For Maxcom Telecomunicaciones SAB de CV


Tuesday, 4 Dec 2012 05:42pm EST 

Maxcom Telecomunicaciones SAB de CV (Maxcom) announced that it has received an offer from Ventura Capital Privado SA de CV (Ventura) to buy all Maxcom shares for MEX 2.90 per share for up to 100% issued shares and for outstanding shares through a public offer. As a part of the transaction, Ventura plans to increase the Company’s capital by USD 22 million. The Company’s Board and investors representing a 44.29% of outstanding shares have approved the deal. The transaction is a subject to obtaining the relevant legal and regulatory authorizations, including CNBV, the Secretariat of Communications and Transportation (SCT Secretaria de Comunicaciones y Transportes) and the Federal Competition Commission (COFECO Comision Federal de Competencia). Additionally, Ventura will start a public tender for Maxcom’s shares, and a 50% of the stock must be offered for the transaction to proceed. The deal is also dependent on a successful offer to exchange Maxcom’s bonds with a maturity in 2014 (11% senior notes) for new bonds the Company plans to issue. 

Company Quote

1.81
0.0 +0.00%
11 Jul 2014