April 13, 2018 / 2:08 PM / 8 months ago

BRIEF-Catena Media Enters French Market By Acquiring ParisSportifs.com

April 13 (Reuters) - CATENA MEDIA PLC:

* CATENA MEDIA ENTERS THE FRENCH MARKET BY ACQUIRING TOP SPORTS BETTING SITE PARISSPORTIFS.COM

* ACQUIRED ASSETS CURRENTLY GENERATE QUARTERLY SALES OF ABOUT EUR 500.000

* INITIAL PURCHASE PRICE AMOUNTS TO AN UP-FRONT PAYMENT OF EUR 8.2 MILLION, OF WHICH EUR 6.2 MILLION WILL BE PAID IN CASH

* PRICE OF EUR 2.0 MILLION WILL BE IN NEWLY ISSUED SHARES IN CATENA MEDIA PLC

* SHARES WILL BE ISSUED AT A SUBSCRIPTION PRICE OF SEK 120,97 PER SHARE

* THERE IS AN EARN-OUT OF A MAXIMUM EUR 5.7 MILLION, BASED ON REVENUE PERFORMANCE OVER A PERIOD OF ONE YEAR. Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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