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SUBSEQUENT EVENTS Subsequent events
6 Months Ended
Jun. 30, 2018
Subsequent Events [Abstract]  
Subsequent events
22.    SUBSEQUENT EVENTS
On July 5, 2018, we signed an amended and restated framework agreement (the “Restated Framework Agreement”) with Slovenia Broadband S.à r.l. (the “Purchaser”), a wholly owned subsidiary of United Group B.V., amending and restating the framework agreement entered into on July 9, 2017, relating to the sale of our Croatia and Slovenia operations. Under the Restated Framework Agreement, the sale of our Croatia operations (the “Croatian Transaction”) is independent of the sale of our Slovenia operations (the “Slovenian Transaction”). The Restated Framework Agreement allocates the total cash consideration of EUR 230.0 million (approximately US$ 268.1 million) into (i) cash consideration for closing of the Croatian Transaction of EUR 85.0 million (approximately US$ 99.1 million) and (ii) cash consideration for closing of the Slovenian Transaction of EUR 145.0 million (approximately US$ 169.0 million), each on a cash-free and debt-free basis and each subject to customary working capital adjustments.
The Competition Protection Agency in Slovenia has confirmed that the Croatian Transaction does not fall within the scope of its review and the Croatian Transaction is expected to close on or about July 31, 2018, subject to the satisfaction of the remaining customary closing conditions. Closing of the Slovenian Transaction remains subject to receipt by the Purchaser of the approval of the Competition Protection Agency in Slovenia, as well as other customary closing conditions.
The Restated Framework Agreement includes certain mutual termination rights including an extension of the right of either party to terminate the Restated Framework Agreement if the transaction had not closed by September 13, 2018. If the Restated Framework Agreement is terminated by either party because closing has not occurred prior to September 13, 2018, the Purchaser is obliged to pay CME a termination fee of EUR 7.0 million (approximately US$ 8.2 million) if neither transaction has closed by such date, and approximately EUR 4.4 million (approximately US$ 5.1 million) if the Croatian Transaction has closed but the Slovenian Transaction has not closed by such date, subject to certain exceptions, including if any requisite regulatory approval has not been obtained as a result of the Purchaser being required to make a specified material divestiture as a condition to such regulatory approval.