Buy out of minority shareholders in subsidiary

Grupo Clarin S.A.

25 October 2023

 

GRUPO CLARIN S.A.

Company buys out minority shareholders in subsidiary

On 24 October 2023, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission and the Buenos Aires Stock Exchange that, on that date, the Company had accepted an offer from Ms. María Gladys Zapata de Flamarique, Ms. María Raquel Casero de Ávila and Mr. Abel Fernando Zapata (the "Sellers") for the purchase of (i) 881,998 common, nominative, non-endorsable shares with a nominal value of AR$1.00 per share of Diario Los Andes Hermanos Calle S.A. ("Diario Los Andes"), and (ii) 40% of a share held by the Sellers in common with Compañía Inversora en Medios de Comunicación (CIMECO) S.A. ("CIMECO"), which owns the remaining 60% of that share; all of which represents in aggregate approximately 20% of the issued and outstanding capital stock and votes of Diario Los Andes (the "Shares").  The Company, through CIMECO, already held 80% of the issued and outstanding capital stock and votes of Diario Los Andes. Therefore, with the purchase of the Shares, the Company now holds, directly and indirectly, 100% of the issued and outstanding capital stock and votes of Diario Los Andes.

As consideration for the purchase of the Shares, the Company paid USD 98,400. The price included certain rights over real estate owned by the Company.

Enquiries:

In Buenos Aires:

Samantha Olivieri / Julián Paz

Grupo Clarín

Tel: [phone]

Email: [e-mail]

In London:

Alex Money

Jasford IR

Tel: [phone]

Email: [e-mail]

In New York:

Camilla Ferreira / Marcella Ewerton

Fig Corporate Communications

Tel: [phone]

Email: [e-mail]

 

END