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Sale of MediaWorks
Sale of MediaWorks
Brendon Gibson and Michael Stiassny of financial advisory firm KordaMentha are pleased to announce the signing of a conditional sale and purchase agreement between MediaWorks NZ Limited (in receivership) and MediaWorks Holdings Limited (MWHL). MWHL is a new company chaired by Rod McGeoch and supported by existing funders. The sale will settle when the Receivers and MWHL have satisfied the conditions in the contract. Settlement is currently expected on 30 September 2013.
“At the outset of the receivership, we focused on ensuring a swift transition of the business to a new owner to provide certainty for the management team, staff, customers and suppliers. Today’s announcement is an important milestone toward selling and transitioning the business.
“We wish to acknowledge and thank the MediaWorks team, suppliers and customers for their efforts and support in helping us achieve that objective,” Mr Gibson said.
Staff, customers and suppliers will be contacted soon with more information about the settlement.
ENDS
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