Dutch media and entertainment platform United Group B.V. has received the nod to complete the sale of its operations in Croatia (Nova TV) to Slovenia Broadband.
The cash purchase price for Nova TV in Croatia is 85 million euros (approximately $99.1 million) plus a working capital adjustment, which is still to be finalized.
Proceeds will be used to repay debt and related payables, including the remaining balance of the $47.5 million term loan due 2019.
The remaining agreement to sell operations in Slovenia for approximately $169 million, plus any working capital adjustment, remains subject to certain closing conditions, including receipt of Slovenian regulatory approvals by United Group.