4iG Plc. Extraordinary Notice Announcement of the signing of a transaction related Heads of Terms
4iG Public Limited Company (registered seat: Montevideo Street 8. Budapest HU-1037, company registration number: 01 10 044993, hereinafter: 4iG) hereby informs its investors and the market that 4iG has signed a Heads of Terms with Magyar Telekom Plc. (registered seat: Könyves Kálmán boulevard 36. Budapest HU-1097, hereinafter: Magyar Telekom) about the acquisition of T-Systems Hungary Ltd. (registered seat: Könyves Kálmán boulevard 36. Budapest HU-1097, hereinafter: T-Systems Hungary).
According to the Heads of Terms, at the closing of the transaction 4iG will purchase the shares of T-Systems Hungary. Prior to transaction closing, the small and medium size enterprise sales business of T-Systems Hungary will be carved out and will not be part of the transaction.
In the signed Heads of Terms, the parties agreed on the purchase price and the main conditions of the transaction, however, the full details of the transaction, including the Heads of Terms, will be binding upon the signing of the final sale and purchase agreement subject to the due diligence of T-Systems Hungary and the further negotiations between the parties.
According to the Heads of Terms, after the closing of the transaction the parties will enter into a long-term partnership agreement, under which T-Systems Hungary will continue to sell Magyar Telekom’s telecommunications services in the large enterprise and public segments.
Furthermore, the parties have agreed that 4iG shall have the right to use the T-Systems brand in Hungary during a three-year period following the closing.
The finalization and closing of the transaction depends on the due diligence process, the progress of discussions between the parties, the finalization of the contractual conditions, the signing of the legal documentation, and the receipt of requisite authority clearance(s). The closing of the transaction is expected in 2019.
Budapest, 09 July 2019
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