5th Apr 2019 10:01
LONDON (Alliance News) - Matomy Media Group Ltd said Friday it had received a USD36 million cash offer to sell its majority stake in Team Internet AG to its minority partner in the technology firm.
Matomy - which owns a 90% stake in Team Internet - received the offer from Rainmaker Investments GmbH, which owns the remaining 10% stake in the firm.
Part of the consideration would be used to repay in full with interest some convertible notes worth ILS101 million, about USD28 million.
In 2018, Matomy generated a pretax loss of USD3.3 million on revenue of USD88.7 million.
Shares in Matomy were 23% lower at 4.44 pence on Friday, having hit a trough of 3.81p earlier, a new 52-week low.
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