7th Apr 2021 15:55
(Alliance News) - Arena Events Group PLC has won a tender for the operating business and assets of event rental company Aztec Shaffer for USD25.6 million, it said on Wednesday.
The total value of the bid was USD25.6 million funded by Arena's equity contribution of USD3.4 million for its 50% equity stake in NewCo and a debt financing package from the co-bidders totalling USD18.3 million, the company said.
The events provider submitted the bid on April 2, 2021 and completion remains subject to the sale hearing at the United States Bankruptcy Court on April 12, 2021.
Shares in Arena Events were quoted at 14.47 pence in London on Wednesday afternoon, down 0.9%. The stock is up 41% so far in 2021.
By Will Paige; [email protected]
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