MediaWorks settlement postponed

30 September 2013

Brendon Gibson of financial advisory firm KordaMentha advises that the settlement of the sale of MediaWorks NZ Limited (in receivership) to MediaWorks Holdings Limited (MWHL) has been postponed. 

“Settlement had originally been planned for 30 September.  However, a small number of complex commercial arrangements are still being negotiated with suppliers. This is not uncommon in a complex transaction of this nature, so this delay is unsurprising.

“The majority of conditions in the Sale and Purchase Agreement have now been satisfied.  We are very pleased with the progress being made and anticipate settlement will occur within weeks,” Mr Gibson said.

ENDS