TCL Multimedia establishes a joint venture agreement with Radio Victoria to invest in Argentina

TCL Multimedia, through a subsidiary, has reached a corporate joint venture agreement with Radio Victoria to invest nearly USD 23,000,000 in operating companies for shares representing 15% of the share capital, through a subscription agreement.

The subscription agreement also provided that on the closing date the parties must enter into a shareholders' agreement. The shareholders’ agreement includes, among other matters, non-compete obligations and call options in favor of the parties (in the case of the TCL call option, up to 49% of the share capital of the joint venture companies).

TCL Corporation Co., owner of TCL Multimedia, is one of China’s largest business groups of consumer electronics operating on a global scale. With this joint venture with Radio Victoria, they aim to increase their market share and further enhance presence in the South American market.

Radio Victoria was established 70 years ago and is one of the top three brands in consumer electronics and home appliance industry in Argentina, engaging in development, manufacturing, distribution and retail.

The signing of the agreement took place on November 28, 2017 and closing will take place during the first quarter of 2018.

Counsel list

Counsel to TCL Multimedia Technology Holdings Limited

In house counsel: Jeffrey Chen.

Marval, O’Farrell & Mairal – Partner Pablo Artagaveytia and associates Mariano Martín Morat, Maria Soledad Noodt Molins and Santiago Antonio Carregal.

Counsel to Radio Victoria Fueguina S.A., Sontec S.A. and Megasat S.A.

Zang Bergel & Viñes  -  Partners Juan Manuel Quintana and Pablo Vergara Del Carril and associate María Agustina Valenti.