3. DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE

On July 9, 2017, we entered into a framework agreement with Slovenia Broadband S.à r.l. (the "Purchaser"), a wholly owned subsidiary of United Group B.V., relating to the sale of our Croatian and Slovenian operations for cash consideration of EUR 230.0 million (the "Divestment Transaction").

On July 5, 2018 we signed an amended and restated framework agreement, which bifurcated the Divestment Transaction into individual transactions for the sale of our Croatian operations (the "Croatian Transaction") and our Slovenian operations (the "Slovenian Transaction"). On July 31, 2018, we completed the Croatian Transaction for proceeds of EUR 86.4 million (approximately US$ 101.4 million at July 31, 2018 rates), resulting in a gain on sale of US$ 58.4 million.

Our Slovenian operations no longer met the criteria to be classified as held for sale as at December 31, 2018. The Slovenian Transaction was subsequently terminated on January 18, 2019. Our Slovenian operations are presented as continuing operations for all periods presented. Assets held for sale and liabilities held for sale at December 31, 2017 represent the assets and liabilities of our Croatian operations. Income / (loss) from discontinued operations, net of tax for the years ended December 31, 2018, 2017 and 2016 represent the results of our Croatian operations, including the gain on sale. For the year ended December 31, 2018, the results of our Croatian operations are through the date of sale.

The carrying amounts of the major classes of assets and liabilities of our discontinued operations that are classified as held for sale in the consolidated balance sheets at December 31, 2018 and December 31, 2017 were:



	December 31, 2018		December 31, 2017
Assets held for sale
Cash and cash equivalents	$	—	$	4,939
Accounts receivable, net	—		18,273
Program rights, net	—		26,254
Property, plant and equipment, net	—		7,169
Other assets	—		3,058
Total assets held for sale	$	—	$	59,693

Liabilities held for sale
Accounts payable and accrued liabilities	$	—	$	13,894
Other liabilities	—		362
Total liabilities held for sale	$	—	$	14,256

Income / (loss) from discontinued operations, net of tax comprised the following for the years ended December 31, 2018, 2017 and 2016:



	For The Year Ended December 31,
	2018			2017			2016
Net revenues	$	36,885		$	57,843		$	55,007
Cost of revenues	23,863			38,766			41,345
Selling, general and administrative expenses	6,853			13,572			7,811
Operating income	6,169			5,505			5,851
Interest expense ⁽¹⁾	(2,766		)	(6,024		)	(5,846		)
Other non-operating income / (expense), net	126			109			(245		)
Income / (loss) from discontinued operations, before tax, before gain on sale	3,529			(410		)	(240		)
Gain on sale of divested businesses	58,442			—			—
Income / (loss) from discontinued operations, before tax	61,971			(410		)	(240		)
Provision for income taxes	(1,423		)	(1,226		)	(678		)
Income / (loss) from discontinued operations, net of tax	$	60,548		$	(1,636	)	$	(918	)

⁽¹⁾

For the years ended December 31, 2018, 2017 and 2016, we paid US$ 7.0 million, US$ 4.2 million and US$ 6.8 million, respectively, of interest and Guarantee Fees associated with the 2019 Euro Loan and the 2021 Euro Loan (each as defined in Note 5, "Long-term Debt and Other Financing Arrangements"). These payments were allocated to Net cash provided by / (used in) discontinued operations - operating activities in our consolidated statements of cash flows as we were required to apply the proceeds from the Divestment Transaction towards the repayment of debt and related obligations. The interest allocated is in direct proportion to the amount of principal repaid.