Altice SA : Closing of the SFR-Numericable transaction
(Thomson Reuters ONE) -
Closing of the SFR-Numericable transaction
Paris - 27th November 2014: Altice (Euronext: ATC) and Numericable Group
(Euronext : NUM) are pleased to announce today the closing of the transaction to
combine SFR and Numericable.
Vivendi received ?13.366 billion in cash of which ?200 million will be
contributed to the financing of the acquisition of Virgin Mobile by Numericable
Group. The amount of ?13.166 billion will be subject to an accounting analysis
to confirm the estimated amount of net indebtedness, in accordance with the
contract.
Vivendi will keep a 20% stake in the new combined entity, which it will be free
to sell after a one-year lock-up period, subject to Altice's pre-emption right.
Altice has call options exercisable in several tranches at market value subject
to a floor(1) between the 19(th) and the 43(rd) month following today's closing.
Vivendi also has the potential to receive an earn-out of ?750 million depending
on the future financial performance of the new entity(2).
Patrick Drahi, founder and Chairman of the Altice group, and Chairman of the
Board of the new Numericable-SFR group, said: "By bringing together Numericable
and SFR, we are creating the French champion in very high speed broadband and in
the convergence of fixed and mobile networks. This is a trend throughout the
sector, borne out across Europe and around the world. "
(1 )Volume Weighted Average Price (VWAP) of Numericable stock price over the
20 business days before closing, grossed-up by an annual rate of 5% during the
period ranging from the closing of the transaction until the exercise date of
the call option by Altice.
(2 )EBITDA - Capex at least equal to ?2 billion during one fiscal year
Contacts
Investor Relations:
Richard Williams (Altice) : +44 (0)7946
348939 / richard.williams(at)altice.net
Olivier Gernandt (Numericable Group) : +33 (0)1 70 01 47 29
/ ogernandt(at)ncnumericable.com
Media:
Arthur Dreyfuss (Altice) +41 79 946 4931
/ arthur.dreyfuss(at)altice.net
About Altice
We are a multinational cable and telecommunications company with presence in
Western Europe (comprising France, Belgium, Luxembourg, Portugal and
Switzerland), Israel, the Dominican Republic and the French Overseas Territories
(currently comprising the French Caribbean and the Indian Ocean regions). We
provide cable based services (high quality pay television, fast broadband
Internet and fixed line telephony) and, in certain countries, mobile telephony
services to residential and corporate customers.
Altice [ATC] is listed on Nyse Euronext Amsterdam, ISIN LU1014539529.
About Numericable Group
Numericable Group is the sole major cable operator in France. It operates using
a very high speed fiber network infrastructure, serving three segments: B2C, B2B
and wholesale. The group benefits from highly advanced technology and relies on
a powerful infrastructure which operates as one network serving each of its
three segments. Numericable is currently the market leader of the nascent very-
high-speed broadband market in France, witha market share of 68%. In its B2C
segment, the group operates under the Numericable brand name and offers
customers a wide range of products and services including pay TV, high-speed and
very-high-speed broadband Internet access, and fixed-line and mobile telephony.
In its B2B segment, the group operates under the Completel brand name, as the
first largest alternative operator in terms of FTTO (Fiber To The Office)
networks.
Numericable Group [NUM] is listed on Nyse Euronext Paris, ISIN FR0011594233.
Disclaimer
This press release contains statements about future events, projections,
forecasts and expectations that are forward-looking statements. Any statement in
this presentation that is not a statement of historical fact is a forward-
looking statement that involves known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or achievements to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. These risk and
uncertainties include those discussed or identified in the Document de Base of
Numericable Group filed with the Autorité des marchés financiers ("AMF") under
number I.13-043 on September 18, 2013 and its Actualisation filed with the AMF
under number D.13-0888-A01 on October 25, 2013. In addition, past performance of
Numericable Group cannot be relied on as a guide to future performance.
Numericable Group makes no representation on the accuracy and completeness of
any of the forward-looking statements, and, except as may be required by
applicable law, assumes no obligations to supplement, amend, update or revise
any such statements or any opinion expressed to reflect actual results, changes
in assumptions or in Numericable Group's expectations, or changes in factors
affecting these statements. Accordingly, any reliance you place on such forward-
looking statements will be at your sole risk.
This press release does not contain or constitute an offer of Numericable
Group's or Altice's shares for sale or an invitation or inducement to invest in
Numericable Group's or Altice's shares in France, the United States of America
or any other jurisdiction.
Press Release as PDF:
http://hugin.info/156399/R/1874948/660633.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Altice SA via GlobeNewswire
[HUG#1874948]
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Datum: 27.11.2014 - 17:41 Uhr
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