HT&E Limited to sell stake in Soprano

HT&E Limited (ASX: HT1) announced that it had signed a binding share sale agreement to divest its 25% stake in Soprano Design Limited to Potentia Capital. Potentia is a leading Australian technology-focused private equity firm. Under the contract, the company will receive AU$66.3 million in cash for selling its entire 25% stake.

After extensive research with various interested parties, the Potentia proposal was the most striking for HT&E shareholders. This agreement delivers HT&E shareholders a good return on investment and provides further balance sheet strength and financial flexibility for HT&E to continue to invest in its core media assets.

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