Listin Diario is sold for US$38.5 million
A down payment of nine million dollars; the rest will be paid over five years
Diario Libre
SANTO DOMINGO. A group of local businessmen with native capital purchased the Listin Diario newspaper for the amount of US$38.5 million. The new media is 121 years old, and was founded on 1 August 1889.
The new owners of the morning paper are: Juan Bautista Vicini Lluberes, Hector Jose Rizek, Samir Rizek, Micalo Bermudez and Jose Luis Corripio (Pepin). All of them met yesterday with President Leonel Fernandez and the governor of the Central Bank, Hector Valdez Albizu, in the Presidential Palace where the sale was announced.
Valdez Albizu spoke with reporters as he left the meeting and said that other media that had been owned by the bankrupted Intercontinental Bank (Baninter), will be sold by the Commission for Administrative Liquidation of Baninter. The prize, of course, was the Listin Diario.
Immediately, the shareholders proceeded to pay Baninter, represented by the Central Bank, the sum of US$9.0 million (about RD$355 million). It was also agreed that the remaining sum of the sales agreement would be paid by the purchasers to the Liquidation Commission over the course of five years, by means of 10 semiannual installments, equal and consecutive of US$2.887 million on the capital, plus the interest corresponding to the 6 month period, calculated based on the Libor plus two points and taking as a reference the parameters established in the Regulations for the sale of the assets of the Central Bank. As a previous step to the acquisition of 91.44% of the shares, the buyers accepted and recognized the existence of the debts of the Editora Listin Diario, its affiliated businesses and those of Bearpark International Ltd, with Baninter, in its condition as the principal creditor of these entities, among other agreements.
At the same time the new owners took on the newspaper and issued a communiqué in which they affirm that they will take on the project not just as a business transaction but rather as a great responsibility to the country.
The Listin was founded by Arturo Pellerano Alfau and has also has as an owner the Baez Romano family. In 2003, as a result of the banking crisis, the newspaper was intervened by the Central Bank.
The new owners of the morning paper are: Juan Bautista Vicini Lluberes, Hector Jose Rizek, Samir Rizek, Micalo Bermudez and Jose Luis Corripio (Pepin). All of them met yesterday with President Leonel Fernandez and the governor of the Central Bank, Hector Valdez Albizu, in the Presidential Palace where the sale was announced.
Valdez Albizu spoke with reporters as he left the meeting and said that other media that had been owned by the bankrupted Intercontinental Bank (Baninter), will be sold by the Commission for Administrative Liquidation of Baninter. The prize, of course, was the Listin Diario.
Immediately, the shareholders proceeded to pay Baninter, represented by the Central Bank, the sum of US$9.0 million (about RD$355 million). It was also agreed that the remaining sum of the sales agreement would be paid by the purchasers to the Liquidation Commission over the course of five years, by means of 10 semiannual installments, equal and consecutive of US$2.887 million on the capital, plus the interest corresponding to the 6 month period, calculated based on the Libor plus two points and taking as a reference the parameters established in the Regulations for the sale of the assets of the Central Bank. As a previous step to the acquisition of 91.44% of the shares, the buyers accepted and recognized the existence of the debts of the Editora Listin Diario, its affiliated businesses and those of Bearpark International Ltd, with Baninter, in its condition as the principal creditor of these entities, among other agreements.
At the same time the new owners took on the newspaper and issued a communiqué in which they affirm that they will take on the project not just as a business transaction but rather as a great responsibility to the country.
The Listin was founded by Arturo Pellerano Alfau and has also has as an owner the Baez Romano family. In 2003, as a result of the banking crisis, the newspaper was intervened by the Central Bank.
Diario Libre
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