Buy out of minority shareholders in subsidiary

Grupo Clarin S.A.
25 October 2023
 

 

GRUPO CLARIN S.A.

Company buys out minority shareholders in subsidiary

 

On 24 October 2023, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission and the Buenos Aires Stock Exchange that, on that date, the Company had accepted an offer from Ms. María Gladys Zapata de Flamarique, Ms. María Raquel Casero de Ávila and Mr. Abel Fernando Zapata (the "Sellers") for the purchase of (i) 881,998 common, nominative, non-endorsable shares with a nominal value of AR$1.00 per share of Diario Los Andes Hermanos Calle S.A. ("Diario Los Andes"), and (ii) 40% of a share held by the Sellers in common with Compañía Inversora en Medios de Comunicación (CIMECO) S.A. ("CIMECO"), which owns the remaining 60% of that share; all of which represents in aggregate approximately 20% of the issued and outstanding capital stock and votes of Diario Los Andes (the "Shares").  The Company, through CIMECO, already held 80% of the issued and outstanding capital stock and votes of Diario Los Andes. Therefore, with the purchase of the Shares, the Company now holds, directly and indirectly, 100% of the issued and outstanding capital stock and votes of Diario Los Andes.

 

As consideration for the purchase of the Shares, the Company paid USD 98,400. The price included certain rights over real estate owned by the Company.

 

Enquiries:

 

In Buenos Aires:

Samantha Olivieri / Julián Paz

Grupo Clarín

Tel: +5411 4309 7104

Email: investors@grupoclarin.com

 

In London:

Alex Money

Jasford IR

Tel: +44 20 3289 5300

Email: alexm@jasford.com

 

In New York:

Camilla Ferreira / Marcella Ewerton

Fig Corporate Communications

Tel: +1 917 691 4047

Email: fig@fig.ooo

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UK 100

Latest directors dealings