PRISA will receive 868 million dollars and its stock will trade on the New York Stock Exchange

At the General Meeting of Shareholders held today in New York, the shareholders of Liberty Acquisitions Holding Corp passed the resolutions required to approve a business combination with PRISA. On Saturday, 27th PRISA’s shareholders are expected to ratify the operation at an Extraordinary General Meeting.

The transaction was approved with the support of a large group of multinational investors who participate in the US fund and who will now become independent shareholders in the Spanish group.

Under the agreement, PRISA will acquire 100% of Liberty by means of an in kind capital increase whereby PRISA will receive cash in the amount of  868 milliondollars and Liberty’s investors will become independent shareholders in the PRISA Group. PRISA’s shareholder of reference will retain control over the management of the company.

This strategic alliance is proof of the confidence which international markets have in PRISA’s leadership and the soundness of its business operations in the publishing, education, journalism, audiovisual and digital sectors, not to mention its growth strategy.

The agreement with Liberty will help the PRISA Group to expand internationally, particularly in the US, Brazil, Mexico and the rest of Latin America. This operation falls within the framework of the plan announced by the Group to ally itself with strategic partners who can help the PRISA group transform itself into a customer-oriented, high technology company with the intention of expanding into and occupying a leading position in Spanish and Portuguese-speaking markets.

Avatar
Author

Write A Comment