Brazil Sports Sales & Debt Restructuring.
In other Brazilian pay-TV news, Globo Cabo restructured its share composition in order to reduce its $600 million debt. Moises Pluciennik, director of the holding company for Globo Cabo, admitted to Brazil's Gazeta Mercantil that the pay-TV company's expansion plans had been restricted by its indebtedness. As a result of its share reconstitution, BNDESPar, the equity arm of the Brazilian Development Bank, acquired 8.6 percent of Globo Cabo's capital for $200 million.
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|Publication:||Video Age International|
|Article Type:||Brief Article|
|Date:||Jan 1, 2000|
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