Brief: Television Broadcasts Tvb And Shaw Brothers Will Invest In A Newly Established SPV

Television Broadcasts

19/08/2021 13:10

Aug 19 (Reuters) - Television Broadcasts Ltd  0511.HK :
    * TVB AND SHAW BROTHERS HOLDINGS LIMITED WILL INVEST IN A
NEWLY
ESTABLISHED SPV
    * SPV WILL ACQUIRE ABOUT 75% OF ISSUED SHARE CAPITAL OF
ZTORE
WHICH OWNS E-COMMERCE PLATFORMS
    * TOTAL CONSIDERATION FOR ACQUISITION IS HK$200 MILLION
    * POST-ACQUISITION CUSTOMER BASE FOR TVB'S E-COMMERCE
BUSINESS
WILL GROW FROM 480,000 TO OVER 1 MILLION
    * UNIT WILL HOLD 90.1% OF VOTING RIGHTS AND 82.5% OF TOTAL
ISSUED
SHARES OF TOTAL ISSUED SHARES OF SPV

Source text for Eikon:  ID:nHKSqKNFq 
Further company coverage:  0511.HK 

 ((Reuters.Briefs@thomsonreuters.com;))