It currently has the 49 % of the company
Mexico: Codere would acquire an additional 35.8% of ICELA from CIE
(Spain).- Spanish group Codere announced that it signed an option to acquire Corporación Interamericana de Entretenimiento (CIE) an additional participation of a 35.8 % of the Mexican group ICELA, for us$ 216.4 million.
2011-08-30
Reading time 29 seg
(Spain).- Spanish group Codere announced that it signed an option to acquire Corporación Interamericana de Entretenimiento (CIE) an additional participation of a 35.8 % of the Mexican group ICELA, for us$ 216.4 million.
At the conclusion of the sale, Codere would assume the total of the net debt of ICELA, "which is estimated in 68 million euros at the date of this press release”, said the Spanish group in a recent note to the Spanish stock market regulator.
Codere currently has the 49 % of ICELA. "If the purchase considered in the agreement is closed, the participation would be increased in up to 84.8 %", affirmed sources of the company.
The agreement is subject to certain closing conditions, including the approval from the Federal Commission of Competence ("COFECO").
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