OK, July 23, August 1, whatever. Either way, it's done!
Unterföhring, August 1, 2003
EM.TV closes sale of The Jim Henson Company
Following a nearly unanimous shareholder vote to approve the sale of The Jim Henson Company at the Annual General Meeting of EM.TV & Merchandising AG on July 23, 2003, the transaction was completed on July 31, 2003.
As a result of contractual adjustments of the purchase price at closing, EM.TV received a reduced cash amount totalling approximately USD 84 million. Simultaneously with the closing, the remaining Junior loan amounting to EUR 12.5 million was repaid in its entirety. As a result, in accordance with current planning, the group’s liquidity is now secured well into 2004.