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Feb 26, 2018 13:33 EEST
February 26 (SeeNews) - Bulgarian telecommunications services provider Allterco [BUL:A4L] said on Monday it has signed a term sheet agreement to sell five of its units to LINK Mobility Group for a total of 8.8 million euro ($10.9 million) in cash and LINK shares.
The preliminary price was determined by multiplying by coefficient of 5.5 the projected annual EBITDA of its units Teravoice, Tera Communications, Tera Communications DOOEL, Alterpay and Teracomm RO, Allterco said in a filing to the Bulgarian Stock Exchange.
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The final price will be determined on a on a cash-free/debt free basis, the company added.
One-third of the price will be paid upon signing of the final agreement, a further one third will be paid three years later, and the remaining one third will be paid in LINK Mobility Group shares.
($ = 0.8102 euro)
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