Saudi Telecom Company (stc) announces that its subsidiary (Telecommunications Towers Company -TAWAL), signed a sale and purchase agreement (SPA) to acquire 3 towers companies.
- Date: 25-Apr-2023
- Source: Mubasher
- Sector:Technology
- Country:Saudi Arabia
Saudi Telecom Company (stc) announces that its subsidiary (Telecommunications Towers Company -TAWAL), signed a sale and purchase agreement (SPA) to acquire 3 towers companies.
|Element List||Explanation|
|Introduction||Saudi Telecom Company (stc) announces that its subsidiary (Telecommunications Towers Company -TAWAL), signed a sale and purchase agreement (SPA) on 20-04-2023 to acquire 3 towers companies from United Group in Bulgaria, Croatia and Slovenia countries for a cash consideration for the entire transaction. The transaction will be based on 100% Enterprise Value amounting to EURO 1.220 billion which equals approximately SAR 5 billion. It was agreed that the transaction cash consideration will be based on the agreed terms of the SPA in relation to debt, cash, and working capital.|
|Transaction Details|| stc by its subsidiary TAWAL (through its subsidiary TAWAL International Holding company, 100% owned by TAWAL) signed a sale and purchase agreement (SPA) on 20-04-2023 to acquire 3 towers companies in Bulgaria, Croatia and Slovenia countries from United Group for a cash consideration for the entire transaction. The transaction will be based on 100% Enterprise Value amounting to EURO 1.220 billion which equals approximately SAR 5 billion. It was agreed that the transaction cash consideration will be based on the agreed terms of the SPA in relation to debt, cash, and working capital.
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Through this transaction, TAWAL will acquire a total of 6,875 telecommunications site across the 3 countries where
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