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RTL Group, the leading European entertainment network, announced that it will acquire a controlling stake in StyleHaul for US-$107 million (around EUR85 million(1)), valuing the company at US-$151.4 million (around EUR121 million1). In addition, the parties have agreed to earn-out mechanisms that might increase the initial consideration, subject to the future performance of the business. RTL Group will also invest US-$20 million into StyleHaul in order to fund the company’s growth plan.
This transaction, which is expected to close by the end of November 2014, will increase RTL Group’s shareholding from 22.3 per cent to 93.6 per cent (on a fully diluted basis). Under the terms of the deal, RTL Group has the opportunity to acquire the remaining equity, owned by...
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