SA Blue Label Telecoms buys 75% of Via Media for up to USD 34mn [IntelliNews - Weekly Reports]
(IntelliNews - Weekly Reports Via Acquire Media NewsEdge) South African Blue Label Telecoms, which distributes secure electronic tokens like prepaid airtime and electricity, said it has agreed to buy a 75% stake in mobile content and value-added services provider Via Media from its current 100%-owner, Malik Investment Holdings, for up to ZAR 360mn (USD 33.7mn). The purchase price includes an initial payment of ZAR 144.4mn plus additional amounts totalling up to ZAR 103.1mn if warranted profits are achieved by Via Media during a 36-month warranty period. Moreover, an additional up to ZAR 112.5mn will be paid if stretched targets, above the warranted accumulated profits over the warranty period, are achieved.
The acquisition will provide Blue Telecom with access to new channels for the distribution of both Via Media and its own products and services, the company said. It will fund the acquisition through its cash resources.
(c) 2014 Emerging Markets Direct Media Holdings LLC Provided by SyndiGate Media Inc. (Syndigate.info).
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