 Further to the announcement made in connection with the proposed acquisition of Zain Group’s African assets:
The total agreed Enterprise Valuation of USD 10.7 billion is likely to result in a total payout of around USD 9.00 billion (which includes any loans payable by the operating companies to Zain Group) based on the estimated net debt of approximately USD 1.7 billion as on 31st December 2009.
It has been agreed that a sum of USD 700 million out of the total payable amount would be paid after one year from closing.
The parties have also agreed to a break-fee of USD 150 million payable by either side on terms and conditions customary to a deal of this nature and size. |