GTT Communications Inc

NYSE:GTT   3:59:58 PM EDT
+0.16 (+4.66%)
Accounting Issues/SEC Inquiries, Divestitures / Spin-offs, Mergers / Acquisitions

GTT Reaches $2.15 Bln Deal To Sell Infrastructure Division To I Squared Capital

Published: 10/16/2020 13:45 GMT
GTT Communications Inc (GTT) - Gtt Reaches $2.15 Billion Definitive Agreement to Sell Infrastructure Division to I Squared Capital.
Gtt Communications - Total Consideration Includes Upfront Cash Payment of $2.02 Billion, Deferred Payments of Up to $130 Million.
Gtt Communications - Does Not Expect to Be Able to File Late Sec Report/deliver Financial Statements for June 30 Quarter by Deadline Under Credit Deal.
Gtt Communications - Failure to Deliver Financial Statements for June 30 Quarter by Oct.
30 Would Constitute Event of Default Under Credit Agreement.