May 12, 2021

Vocento sells its stake in Izen Producciones


Madrid

Updated:

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Vocento has agreed to transfer its 45% package in the audiovisual content production business of Izen Producciones SL, which it held through the 69.99% investee Veralia Corporación de Productoras de Cine y Televisión SL, and which was subject to of relevant fact on June 30, 2017, as well as 11.7% in Zebra Series, SL, to Newen SAS.

The sale has been carried out for a price that includes a fixed part of 10.6 million euros, including the amounts withheld for post-closing adjustments and contingencies, and a variable part, payable in 2024 depending on, among others, compliance with the agreed business plan.

Vocento accounted for its shares by the equity method. Now, after the sale operation, which refers to properties not included in the company’s core business, Vocento does not hold any direct or indirect participation in Izen Producciones SL

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