Pace signals it wants loan for $475m 2Wire takeover

27 Jul 2010

Pace, the UK digital TV technology firm, is arranging a new loan with its banks to back its proposed acquisition of US software firm 2Wire.

The acquisition, for a cash consideration of $475m, will be funded by existing cash reserves and the new facility. Banks have received letters of intent for the deal, which is expected to be completed before the end of the year.

Pace already has a standby £35m revolver with Royal ...

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