German Company Backs $250m Amaysim Mobile Sale To Optus
German company TGV plans to throw the weight of its nearly 20 per cent stake in mobile carrier Amaysim Australia behind a $250 million sale to Optus.
In a statement on the ASX, Amaysim – which was founded in 2010 – confirmed TGV’s intentions ahead of the company’s Extraordinary General Meeting where shareholders will decide on the proposals.
In order for the Optus sale to be approved, more than 50 per cent of the votes need to be behind it.
TGV, which is owned by German billionaire Norman Rentrop, is Amaysim’s largest shareholder with a 19.2 per cent stake.
Other significant shareholders include Challenger, Merlon Capital Partners and the University of Notre Dame du luc, all of whom are yet to declare their voting intentions.
In the ASX statement, the Board of Amaysim unanimously recommended the shareholders vote in favour of the Mobile Sale, Distribution and Delisting to Optus, in the absence of a superior proposal.
The Optus deal will see shareholders paid between 67 to 73 cents per Amaysim share in three tranches between now and October.