Subsidiaries Arte Radiotelevisivo Argentino S.A. and GC Minor S.A.U. sell Bariloche TV S.A.
On 22 July 2021, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission and the Buenos Aires Stock Exchange that its subsidiaries Arte Radiotelevisivo Argentino S.A. ("Artear") and GC Minor S.A.U. ("GC Minor") had received and accepted an offer from Televisión Litoral S.A. ("TLSA") and Margarita Scaglione ("MS", and together with TLSA, the "Buyers"), whereby the Buyers acquired from Artear and GC Minor (Artear and GC Minor, the "Sellers"), all of the Sellers' shares of Bariloche TV S.A. ("BTV"), in the following quantities and percentage participations: A) Artear assigned (i) to TLSA, 9,900 common, nominative, non-endorsable shares, each with a nominal value of AR$ 10 and the right to one vote, representing 99% of the capital stock and votes of BTV, and (ii) to MS, 90 common, nominative, non-endorsable shares, each with a nominal value of AR$ 10 and the right to one vote, representing 0.9% of the capital stock and votes of BTV, and B) GC Minor assigned to MS 10 common, nominative, non- endorsable shares, each with a nominal value of AR$ 10 and the right to one vote, representing 0.1% of the capital stock and votes of BTV (the shares described under A) and B), above, collectively, the "Shares").
In consideration for the Shares, the Buyers-collectively and according to the pro rata participation acquired by each Buyer-shall pay the Sellers an aggregate amount of USD 600,000 (the "Purchase Price"). Payment of the Purchase Price will be made by the Buyers as follows: (i) USD 300,000, no later than 2 August 2021, and (ii) the balance; i.e. USD 300,000, no later than 1 December 2022. Each of the Buyers has issued a promissory note in favor of the Sellers as guarantee for the payment of the Purchase Price. The representations and warranties made by the Sellers are the usual ones for this type of transaction. The Sellers have made no representations or warranties as to the situation of BTV.
The economic result of this transaction results from the Purchase Price, at the official Peso - U.S. Dollar exchange rate, minus the cost of the shares, resulting in an estimated profit of AR$ 11 million. The final result will depend on the adjustments and taxes arising from the transaction.
Grupo Clarin SA published this content on 22 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 20:08:25 UTC.
Grupo Clarin SA is an Argentina-based company principally engaged in the provision of television (TV) cable services. The Companyâs activities are structured in four business segments: Cable TV and Internet Access, which operates a cable TV network in Latin America and provides broadband Internet services; Printing and Publishing, which focuses on the production and distribution of national and regional newspapers, as well as magazines, supplements, books, collectible products and other periodical publications; Broadcasting and Programming, which includes a variety of TV channels, radio stations and entities active in the content production and provision of advertising services, as well as Digital Content and Others, which creates, hosts and manages a variety of Websites, on-line portals and digital platforms for mobile phones, among others.