Matterhorn's Salt-Mother, financial backer, sets out to acquire ownership in Monaco Telecom
Matterhorn Telecom to Acquire GP Holding SAS in Major Expansion Move
Matterhorn Telecom, a leading telecommunications company, has announced its intention to acquire GP Holding SAS, a move that is expected to significantly boost its expansion strategy. The deal, worth 616.2 million euros, will grant Matterhorn Telecom a 90 percent stake in GP Holding SAS.
GP Holding SAS, currently holding a majority stake (50.01 percent) in Monaco Telecom, is the target of Matterhorn Telecom's acquisition. The acquisition price of 616.2 million euros will be funded in part by existing resources of Matterhorn Telecom, as well as a new supplementary credit facility of 130 million euros.
The new credit facility, established by Matterhorn Telecom, comes with an interest rate of 2.75 percent. This facility is not the only funding source for the acquisition, as the company is also expected to use part of its existing resources.
The credit facility, intended for the acquisition of a stake in GP Holding SAS, has been approved by a yet-unnamed bank. The interest rate for the new supplementary credit facility is also 2.75 percent.
It's important to note that Monaco Telecom is not being directly acquired by Matterhorn Telecom. Instead, Matterhorn Telecom is acquiring GP Holding SAS, which in turn holds a majority stake in Monaco Telecom.
The acquisition of GP Holding SAS is a significant step for Matterhorn Telecom, as it will further strengthen its position in the telecommunications industry. The company's strategic acquisitions, including the acquisition of GP Holding SAS, will be supported by the new supplementary credit facility.
This acquisition follows GP Holding's announcement that it is being acquired by another company, GP Holding SAS, which in turn is majority-owned by Matterhorn Telecom. The acquisition of GP Holding SAS by Matterhorn Telecom is expected to be finalised in the coming months, subject to customary closing conditions and regulatory approvals.
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