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Rizzoli Corriere Della Sera Mediagroup SpA Signs Agreement for Sale of 54.6% Stake in Dada SpA

Thursday, 11 Jul 2013 01:36pm EDT 

Rizzoli Corriere Della Sera Mediagroup SpA announced that, in line with the business strategy envisaged in the 2013-2015 Development Plan, it has signed an agreement for the sale to Orascom TMT Investments S.a.r.l. (through the wholly owned subsidiary Libero Acquisition S.a.r.l.) of the 54.6% interest owned in Dada SpA. The closing of the transaction is foreseen within the first ten days of August 2013, subject to the fulfillment of customary conditions precedent. The Enterprise Value recognized by Orascom TMT Investments S.a.r.l. for the entire capital of Dada SpA is EUR 83 million, corresponding to an estimated equity value of EUR 55 million. After the closing of the transaction the buyer shall launch a mandatory tender offer on the entire share capital of Dada according to applicable legislation.