Sale proceeds will primarily be used to repay debt, thereby reducing Catena Media's leverage ratio. The aggregate purchase prices for the sales are paid in three tranches: EUR 12.8 million in October and November 2023, EUR 3.5 million in Q4 2024, and EUR 3.5 million in Q2 2025. One of the transactions has been completed and the other is due to complete in Q4 2023. The transactions together cover the sale of Catena Media's Italian online sports and casino brands and related assets and mark the group's exit from the Italian market. Catena Media plc today announces it has entered into agreements to sell its Italy-facing online sports betting and casino assets for EUR 19.8 million to two different buyers.
