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On November 15, the Special Committee received an improved binding proposal from the same bidder.
WOM Chile continues to advance in negotiating the binding proposal to formalize it in its final version, which it expects to achieve in the coming days.
Santiago, November 19, 2024. The Special Committee of independent directors of WOM S.A. (“WOM Chile” and, together with its debtor subsidiaries, the “Company”) announced today that on November 15, 2024, it received an improved binding proposal under the “Stalking Horse” procedure for a restructuring transaction, submitted by the same party that had previously submitted a binding proposal.
WOM Chile continues to advance in negotiating the binding proposal to formalize it in its final version, which it expects to achieve in the coming days. The transaction is subject to the completion of documentation and approval by the U.S. Bankruptcy Court for the District of Delaware.
As of November 15, 2024, WOM Chile had not received any other qualified offers for the acquisition of the Company. Consequently, and in accordance with the Offer Procedures, the Company does not expect to conduct an auction process at this time.
