Potentia Capital Pty. Ltd. signed a binding share sale agreement to acquire 25% stake in Soprano Design Limited from HT&E Limited (ASX:HT1) for AUD 66.3 million on December 31, 2022. The consideration is paid in cash.

This transaction delivers HT&E shareholders a meaningful return on investment and provides further balance sheet strength and financial flexibility for HT&E to continue to invest in its core media assets. The transaction is conditional upon receiving FIRB approval. Macquarie Capital (Australia) Limited acted as financial advisor to HT&E Limited in the transaction.

As of February 22, 2023. HT&E Limited [ASX: HT1] today announced that approval has been granted by the Foreign Investment Review Board (FIRB). The transaction is expected to complete on first half of 2023.

Malika Chandrasegaran of Herbert Smith Freehills acted as legal advisor to Soprano Design Limited & HT&E.