→ As part of the Globopar’s debt restructuring, Telmex (through its Brazilian subsidiary Embratel) acquired a relevant position of Net Serviços (“NET”), the leading cable operator in Brazil and a controlled subsidiary of Globopar.
→ All the proceeds of this transaction were used on the benefit of Globopar’s creditors and bondholders. This transaction was an important step forward on Globopar’s debt renegotiation process.
→ This M&A was negotiated and agreed at the same time net’s management was negotiating its own debt restructuring with its creditors and bondholders. The M&A transaction was negotiated through a complex agreement contemplating all possible outcomes of net´s debt restructuring. The final agreement was fully disclosed to NET’s shareholders (NET was a listed company at that time) and creditors (Globopar’s and NET’s). The conclusion of this sale facilitated the agreement between NET and its creditors.
→ As Globopar’s CFO and NET’s board member, Mr. Alexander was appointed as joint negotiator of this transaction.
→ The entire negotiation, from the initial business agreement among the shareholders of both groups to the shareholder’s
