December 20, 2017 / 8:28 AM / 5 months ago

BRIEF-Eircom majority investors enter definitive agreement with Toohil Telecom, deal needs regulatory clearance

Dec 20 (Reuters) - Eircom Finance Dac:

* ‍MAJORITY SHAREHOLDERS OF PARENT COMPANY OF ISSUER, EIRCOM HOLDCO S.A. (“EHSA”), HAVE ENTERED INTO A DEFINITIVE AGREEMENT WITH TOOHIL TELECOM HOLDINGS LIMITED (“TOOHIL”) TOOHIL TO ACQUIRE 100% OF EHSA

* TOOHIL IS MAJORITY OWNED AND CONTROLLED BY NJJ TELECOM EUROPE AND ILIAD SA.​

* ‍TRANSACTION IS CONDITIONAL UPON SATISFACTION OF CERTAIN CONDITIONS, INCLUDING OBTAINING EU MERGER REGULATION CLEARANCE FROM EUROPEAN COMMISSION AND MEDIA MERGER CONSENT FROM MINISTER FOR COMMUNICATION, CLIMATE ACTION AND ENVIRONMENT IN IRELAND​

* ‍TRANSACTION IS EXPECTED TO COMPLETE IN FIRST HALF OF 2018

* TOOHIL HAS FULLY COMMITTED FUNDING TO CONSUMMATE THE TRANSACTION

* RICHARD MOAT, CEO, HAS ANNOUNCED HIS INTENTION TO LEAVE THE COMPANY AFTER THE CLOSING OF THE TRANSACTION ​ Source text for Eikon: Further company coverage: (Reporting By Pamela Barbaglia)

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