(Press Release) Ideiasnet announced the sale of its stake in iMusica, a Brazil-based digital content distributor, to Claro S.A.
Ideiasnet, pursuant to the provisions of Rule 358, dated 01/03/2002, as amended, hereby informs its shareholders and the market in general that Ideiasnet Fund II (FIP II) and other shareholders of iMusica have signed yesterday a Sale and Purchase Agreement with Claro S.A. for the sale of its stake in iMusica.
iMusica is a pioneer and market leader in Latin America for the distribution and management of digital content. The company is the main content provider for the major mobile operators and music services in Brazil, developing content management and distribution platforms and creating music branding projects.
The transaction is subject to, among other conditions, approval by the Administrative Council for Economic Defense (CADE), pursuant to law No. 12.529/11.