15th Apr 2015 05:16
MAINTAL (Alliance News) - German telecom firm Drillisch AG on Wednesday announced that it has signed sale and purchase agreement with Dixons Carphone PLC on the acquisition of The Phone House Deutschland GmbH. The transaction is anticipated to take place by the end of May at the latest.
Drillisch specified that the purchase price has two components. The first component, which is due at closing, is foreseen to be paid in the form of new Drillisch shares and is expected to represent about 3% of the outstanding shares of Drillisch AG at closing. The second component consists of future excess cash flows of The Phone House.
The consideration for the first purchase price component shall be realized by utilisation of the authorised capital with exclusion of the subscription rights of the shareholders (capital increase in kind). The new shares will be subject to a standard lock-up period.
With this acquisition, Drillisch AG completes the establishment of its new area-wide "offline" trade channel.
The Phone House is one of the largest distributors in Germany with regard to mobile and fixed network contracts as well as mobile and other telecommunication devices.
Copyright RTT News/dpa-AFX
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