Independent News and Media Oz sale will see it clear all debts

Independent News and Media (INM) has agreed to sell its stake in an Australian media company for more than €120m.

Independent News and Media Oz sale will see it clear all debts
Fri, 20 Mar, 2015 - 00:00
Peter O’Dwyer

INM has enlisted the services of Credit Suisse to dispose of its 18.6% stake in APN, owner of a number of radio stations in Australia and New Zealand and publisher of the New Zealand Herald.

The sale, at approximately €0.63 per APN share, will garner proceeds of €121.3m, with net proceeds of €115m.

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CourtsIndependent News and MediaINMDebtPlace: AustraliaPlace: New ZealandPlace: IrelandPlace: USPerson: Robert PittPerson: Rupert MurdochPerson: MurdochOrganisation: Independent NewsOrganisation: Independent News and MediaOrganisation: INMOrganisation: Credit SuisseOrganisation: APNOrganisation: INM GroupOrganisation: IrishOrganisation: News CorpOrganisation: ReutersOrganisation: Fox Sports Australia
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