Abaxbank financial advisor to Screen Service in the acquisition of 100% of RRD Reti Radiotelevisive Digitali
09/02/2009 - Abaxbank financial advisor to Screen Service in the acquisition of 100% of RRD Reti Radiotelevisive Digitali
Screen Service acquires 100% of RRD Reti Radiotelevisive Digitali S.r.l., leader in the broadcast and telecommunications services industry.
Screen Service Broadcasting Technologies S.p.A. is listed on the Italian Stock Exchange’s Expandi Market (SSB.MI) and key player in the design, production and marketing of equipment used in television signal transmission systems; RRD Reti Radiotelevisive Digitali S.r.l. is a wholly-owned subsidiary of Waiting 4 S.p.A., controlled by shareholders active in the world of television broadcasters and financial investors.
The value of the transaction is equaling to 19.6 million euro and will consist in:
- 2.3 million euro in cash;
- 14.0 million euro in trade and financial receivables, 0.5 million euro of which will be used to settle a receivable with Waiting 4 itself;
- 3.3 million euro in Screen Service’s own shares (equal to 5,500,000 shares), which will be transferred to Waiting 4 by SSBT.
From a strategic point of view, given the complementary nature of the two companies’businesses, the transaction will make it possible for the SSBT Group to begin the transformation of the Group from manufacturer to end-to-end solution provider and, therefore, to expand its actual offer to the broadcast industry and to important telecom operators, as well as to new domestic and international markets.
Screen Service’s financial advisor for the transaction was Abaxbank with MBL & Partners acted as legal advisor; the legal advisor for Wating 4 S.p.A. was Chiomenti Studio Legale New York.
Press release on the transaction
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