The Brazilian operator Oi, in which the Portuguese Pharol is a shareholder, sold part of the telecommunications tower business to Highline, for 328 million euros, which was the only company that submitted a proposal for this auction.
In a statement published by Pharol, in the Securities Market Commission (CMVM), Oi indicated that “in the Court of Judicial Conciliation, the opening hearing of closed proposals presented in the scope of the competitive procedure for the sale of shares issued by a special purpose corporation (SPE Torres 2), subject to the terms established in the PRJ Reform [Plano de Recuperação Judicial] and in the form of the notice.
In the same note, the operator indicated that “during the hearing, there were no other closed proposals for the acquisition of SPE Torres 2, the binding proposal submitted by NK 108 Empreendimentos e Participações SA (NK 108), a subsidiary “of Highline do Brasil II Infraestrutura de Telecomunicações SA, for the acquisition of SPE Torres 2, in the amount of up to R$ 1,697,000,000.00”, around 328 million euros at today’s price “to be paid in cash, under the observed conditions in the proposed compromise.
According to the same note, since there were no other proposals, “the Binding Proposal was ratified by NK 108 during the hearing and the Court of Judicial Conciliation declared NK 108 the winner of the competitive procedure for the sale of SPE Torres 2, after the favorable declarations of the Public Ministry of the State of Rio de Janeiro and the Receiver”.
Thus, “the respective Share Purchase Agreement will be entered into with NK 108, subjecting the effective conclusion of the transfer of the shares representing the capital stock of SPE Torres 2 to compliance with the conditions set forth in said agreement”, including “the approvals purchase and sale of shares by the Administrative Council for Economic Defense – CADE and by the National Telecommunications Agency – ANATEL”, highlighted Oi.
Oi recorded a loss of 321 million reais (61.2 million euros) in the second quarter of the year, compared to a profit of 1,139 million reais in the same quarter of the previous year.
The sale of Oi’s operation to operators Claro, TIM and Vivo, completed in the second quarter, helped contain losses between April and June. According to a statement, the company recorded heavy losses with exchange rates, interest and tax charges.
The company’s revenues totaled 7.1 billion reais (1.3 billion euros) in the first half, indicating a drop of 18.7% compared to the same period last year (8.8 billion reais or 1.7 billion euros). ).
Source: Observadora
