{"id":783672,"date":"2023-09-13T06:48:58","date_gmt":"2023-09-13T10:48:58","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/veon-finalizes-sale-agreement-to-exit-russia\/"},"modified":"2023-09-13T06:48:58","modified_gmt":"2023-09-13T10:48:58","slug":"veon-finalizes-sale-agreement-to-exit-russia","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/veon-finalizes-sale-agreement-to-exit-russia\/","title":{"rendered":"VEON finalizes sale agreement to exit Russia"},"content":{"rendered":"<div class=\"mw_release\">\n<p>\n        <strong>Amsterdam, 13 September 2023\u00a0<\/strong>\u2013\u00a0VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services (\u201cthe Company\u201d), today announces that it has agreed with the buyer, owned by certain senior members of PJSC Vimpelcom management team, amendments to the sale and purchase agreement in connection with the sale of its Russian operations. The agreed amendments have no material impact on the economic terms of the original transaction announced on 24 November 2022.<\/p>\n<p>With the amendments to the sale agreement, the entire consideration for the sale will be satisfied by transferring the VEON Holdings Bonds acquired by PJSC VimpelCom to a wholly owned subsidiary of VEON Holdings, which will hold such notes until their cancellation or maturity. U.S. and other regulatory approvals have been received for the transfer of approximately 95% of such VEON Holdings Bonds, which will be transferred immediately prior to the closing of the sale. The remaining VEON Holdings Bonds will be transferred as soon as the outstanding regulatory approval is in place, which may occur post-closing. The Company expects all formalities necessary for the closing of the sale to be completed ahead of the 13 October maturity of VEON Holding&#8217;s October 2023 bonds.<\/p>\n<p>VEON Group CEO Kaan Terzioglu commented: \u201cI am pleased with the progress we have achieved in our exit from Russia despite the complexities of the transaction. Our exit strategy is the optimal solution for all our stakeholders \u2013 our customers, employees, creditors and investors world-wide. I would like to thank our stakeholders for their patience and continued support.\u201d\u00a0 <\/p>\n<p>\n        <strong>About VEON<\/strong><br \/>\n        <br \/> VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers.\u00a0 Operating across six countries that are home to more than 7% of the world\u2019s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth.\u00a0 Headquartered in Amsterdam, VEON is listed on NASDAQ and Euronext.<\/p>\n<p>For more information visit:\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=U8Fel-Xudr5X_TRZDgTmkMj_md3bzKQAfBltWtJCyfUO5cIwFJ5TztoeNn5uQq5st1oPq_DGJiSPJPQnjXOLROhLxAFQBfcmB2dTZlvRkDUgDkdyi8oRHsDSeKtWzlGlJHoqjvSw5a03jE3lh-zUK6g7YqzGIpVDwjsNp59fdmaeRkWHeJOetIcH0d-f7zErFel2m27EXslYbyVSkc-GlGLSdZBqupUy1mE1M_1FESdrqXCP0vAeA2ZAhUfIqlcN\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/www.veon.com<\/a>.<\/p>\n<p>\n        <strong>Disclaimer\u00a0<\/strong><br \/>\n        <br \/> This release contains \u201cforward-looking statements,\u201d as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, VEON\u2019s strategy and divestment plans. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events. Furthermore, elements of this document contain or may contain, \u201cinside information\u201d as defined under the Market Abuse Regulation (EU) No. 596\/2014.<\/p>\n<p>\n        <strong>Contact Information<\/strong><\/p>\n<p>VEON\u00a0<br \/> Hande Asik<br \/> Group Director of Communication\u00a0<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=KMJmNJyNp4EyNtd5ysU2QuGg8j-NumIrurrrUQI2P997yMXzaVHw4EdMADybdzK20_J43H7NJzKbNSMV1yAQWnR_hJBF0kCzSGjr4hm463_Uuag0oEJMe1kXHRF_3bL5XN6blD_Gujz9OU5RrfwBHfY6NdSASEnWHJQ3qK6Cw8LA46Q_8KVyMKro0U6gbm37fKWWXdgQb3I38LK98l_9QOJ_CY0ptroQA7Jf-GBlW19-MG3zdGDofJ2bnZLSidfM\" rel=\"nofollow noopener\" target=\"_blank\">pr@veon.com<\/a><\/p>\n<p>Faisal Ghori <br \/>Group Director of Investor Relations<br \/>ir@veon.com<\/p>\n<p>TUVA Partners<br \/>Julian Tanner<br \/>julian.tanner@tuvapartners.com<\/p>\n<p>\u00a0<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDgzOTMxMSM0MDE2MDg1NTkjMjAwMzU0OA==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml-eu.globenewswire.com\/media\/NTRjYTVkZjktYWYyZS00YjIxLWI4NWItZDRhZTIzYWE2YjIxLTEwMTUxMjE=\/tiny\/VEON-Ltd-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Amsterdam, 13 September 2023\u00a0\u2013\u00a0VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services (\u201cthe Company\u201d), today announces that it has agreed with the buyer, owned by certain senior members of PJSC Vimpelcom management team, amendments to the sale and purchase agreement in connection with the sale of its Russian operations. The agreed amendments have no material impact on the economic terms of the original transaction announced on 24 November 2022. With the amendments to the sale agreement, the entire consideration for the sale will be satisfied by transferring the VEON Holdings Bonds acquired by PJSC VimpelCom to a wholly owned subsidiary of VEON Holdings, which will hold such notes until their cancellation &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/veon-finalizes-sale-agreement-to-exit-russia\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;VEON finalizes sale agreement to exit Russia&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-783672","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>VEON finalizes sale agreement to exit Russia - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/veon-finalizes-sale-agreement-to-exit-russia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VEON finalizes sale agreement to exit Russia - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Amsterdam, 13 September 2023\u00a0\u2013\u00a0VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services (\u201cthe Company\u201d), today announces that it has agreed with the buyer, owned by certain senior members of PJSC Vimpelcom management team, amendments to the sale and purchase agreement in connection with the sale of its Russian operations. The agreed amendments have no material impact on the economic terms of the original transaction announced on 24 November 2022. With the amendments to the sale agreement, the entire consideration for the sale will be satisfied by transferring the VEON Holdings Bonds acquired by PJSC VimpelCom to a wholly owned subsidiary of VEON Holdings, which will hold such notes until their cancellation &hellip; Continue reading &quot;VEON finalizes sale agreement to exit Russia&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/veon-finalizes-sale-agreement-to-exit-russia\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-13T10:48:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDgzOTMxMSM0MDE2MDg1NTkjMjAwMzU0OA==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/veon-finalizes-sale-agreement-to-exit-russia\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/veon-finalizes-sale-agreement-to-exit-russia\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"VEON finalizes sale agreement to exit Russia\",\"datePublished\":\"2023-09-13T10:48:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/veon-finalizes-sale-agreement-to-exit-russia\\\/\"},\"wordCount\":506,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/veon-finalizes-sale-agreement-to-exit-russia\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=MTAwMDgzOTMxMSM0MDE2MDg1NTkjMjAwMzU0OA==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/veon-finalizes-sale-agreement-to-exit-russia\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/veon-finalizes-sale-agreement-to-exit-russia\\\/\",\"name\":\"VEON finalizes sale agreement to exit Russia - 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