The Management Board of P4 sp. z o.o. (the “Company”) hereby reports that on 22 April 2020 the Company entered into the Preliminary Share Sale and Purchase Agreement (“PSPA”) to acquire 100% shares in Virgin Mobile Polska sp. z o.o. (“VMP”) from its shareholders and leading investors including Delta Partners Emerging Markets TMT Growth Fund II L.P. and Dirlango Trading & Investments Limited, amongst others.
The acquisition cash price of 100% ownership in VMP (on a debt-free and cash-free basis) was set at EUR 13.4 million (PLN 60.7 million). The acquisition will be financed from own cash and financing available to the Company and will be subject to certain closing accounts adjustments.
Acquisition of VMP requires antimonopoly consent of the President of the Office of Competition and Consumer Protection. The Company will report to the market conclusion of Promised Share Sale and Purchase Agreement, once all conditions precedent are fulfilled.
Acquisition of VMP after costs of integration and foreseen synergies is expected to provide incremental contribution to the Play Communications S.A. Group’s adjusted EBITDA and FCFE within 24 months from acquisition.
Legal basis: Art. 17 MAR