Vodafone: agrees to sell Vodafone Hungary
(CercleFinance.com) - Vodafone has announced that it has reached agreements with 4iG Public Limited Company and Corvinus, a Hungarian state holding company, regarding the potential sale of 100% of Vodafone Hungary, one of the country's leading converged network operators.
The sale would be for a total cash consideration equivalent to an enterprise value of 715 billion Hungarian forints (about 1.8 billion euros), representing a multiple of 9.1x adjusted EBITDA for the 12 months to 31 March 2022.
The transaction is subject to the completion of confirmatory due diligence, with the parties entering into binding transaction documents and obtaining regulatory approval. The parties hope to complete the deal by the end of 2022.
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