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05 Apr 2019 | 07:20

Matomy Media receives $36m bid for Team Internet stake

Marketing company Matomy Media Group said it had received an offer of $36m to sell its 90% stake in Team Internet.

The stake would be sold to an entity formed by Team Internet's 10% shareholder Rainmaker Investments.

Rainmaker had attached to the offer a letter of support by a German private equity fund, according to which it confirmed its full intent to partner with Rainmaker on the offer.

The $36m would be first used for the full payment of the Matomy's convertible bonds.

'The board of directors of Matomy has considered the sale offer and decided to proceed in facilitating due diligence by the purchaser and in negotiating a definitive agreement that reflects the terms of the sale offer,' Matomy said.

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