February 21, 2024
Hi (OIBR3 OIBR4) Notifies InfraCo . Sales Chain Approval

Hi (OIBR3 OIBR4) Notifies InfraCo . Sales Chain Approval

São Paulo – Hello (OIBR3;OIBR4) that the General Supervisory Board of the Administrative Council for the Defense of Competition (CADE) approved the partial sale of UPI InfraCo without restrictions.

According to a statement published on Monday (18), the approval decision will become final within 15 calendar days, counting from the date of its publication, if there is no appeal by the third parties involved or the process being called by the Administrative Court of CADE.

Finally, Oi informed that the actual completion of the process is subject to prior approval from the National Telecommunications Agency (Anatel), as well as the fulfillment of the previous conditions.

At 1:05 PM (Brazilian time), OIBR3 assets were up 15% to R$ 1.15, while OIBR4 assets were up 12.05% to R$ 1.86.

Hello: InfraCo has been sold at R$12.9 billion

at the beginning of the month, Oi, which is undergoing judicial reorganization, has announced the completion of the sale of its Infraco fiber optic unit, for R$12.9 billion in financing from BTG Pactual and Globenet Cabos Submarinos.

According to a relevant fact, the contract includes a primary installment, in the amount of R$3.3 billion, a secondary installment, in the amount of R$6.5 billion, and two additional primary installments, totaling R$1.6 billion, in addition to the incorporation of the investor, in the amount of R$1.5 billion.

After these steps, shareholders will receive shares representing 57.9% of InfraCo’s voting and total share capital, with Oi and its affiliates remaining with the remaining voting participation and total share capital.

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