Italian public relations firm SEC has acquired a 51% stake in Colombia's Newlink Comunicationes Estrategicas.
The purchase price included a net financial position of €70,635 plus up to €2,185,306, conditional on the target clearing earnings performance hurdles.
The minority shareholders have been granted with a put option to sell the remaining 49% stake in five years' time. There is no obligation to exercise the option, which stipulates that SEC would pay no more than €4,284,914 for 100% of Newlink.
At 8:32am: (LON:SECG) Sec S.p.a. Ord Npv Cdi share price was 0p at 121p