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Rizzoli Corriere Della Sera Mediagroup SpA Closes Sale of 54.6% Stake in Dada SpA

Wednesday, 7 Aug 2013 07:50am EDT 

Rizzoli Corriere Della Sera Mediagroup SpA announced that, in line with the business strategy envisaged in the 2013-2015 Development Plan, it has finalized on August 7, 2013 the sale to Orascom TMT Investments Sarl (through the wholly owned subsidiary Libero Acquisition Sarl) of the 54.6% interest owned in Dada SpA. As previously announced on July 11, 2013, the Enterprise Value recognized by Orascom TMT Investments Sarl for the entire capital of Dada SpA is EUR 83 million, corresponding to an equity value of EUR 55.5 million. Libero Acquisition Sarl shall launch a mandatory tender offer on the entire share capital of Dada according to applicable legislation, with a share price of EUR 3.329.