Under the terms of the deal, it will pay a total of PLN60.7 million (€13.4 million) to the company’s shareholders and major investors, who include Delta Partners Emerging Markets TMT Growth Fund ll LP and Dirlango Trading & Investments Limited.
According to Play, the acquisition will be financed through its own and external funds. It will also be subject to certain adjustments related to the financial situation of Virgin Mobile Polska at the close of the transaction.
Furthermore, it will require the approval of the president of the Office of Competition and Consumer Protection (UOKiK), after which Play will inform the market of the “Promised Sale and Purchase Agreement”.
Play believes that the acquisition will have a positive impact on adjusted EBITDA and free cash flow for its shareholders (FCFE) within 24 months of the purchase.