Update on the Consumer transaction
3 October 2016
Reference is made to the stock exchange announcements made on 18 July and 16 August 2016 regarding the share purchase agreement entered into on 17 July 2016 between Opera Software ASA ("Opera") and Golden Brick Capital Private Equity Fund I L.P. (the “Buyer”) on the sale and purchase of Opera's consumer business (the "Transaction").
The regulatory review by CFIUS is still ongoing. The parties agree that the required part of the reorganization that is to take place prior to closing was completed by September 30, hence pursuant to the amendment agreement No.1 to the share purchase agreement dated 15 August 2016 referred to in the stock exchange announcement dated 16 August 2016, the third prepayment of USD 275 million is due and payable to escrow. According to the agreed payment plan between the parties, the third prepayment will be paid in tranches during the month of October.
Once the full third prepayment has been made, the amount held in the escrow will be equal to the full enterprise value of the Transaction. Closing of the Transaction will take place once CFIUS has concluded its review.
Opera is moving the date for the 3Q16 reporting from 26 October 2016 to 10 November 2016 .
Petter Lade, Investor Relations
Tel: +47 2369 2400
About Opera Software ASA
Opera enables more than 350 million internet consumers worldwide to connect with the content and services that matter most to them. Opera also helps publishers monetize their content through advertising and advertisers reach the audiences that build value for their businesses, capitalizing on a global consumer audience reach that exceeds 1 billion