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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 15, 1999
IMPSAT CORPORATION
IMPSAT S.A.
(Exact name of registrant as specified in its charter)
Delaware
Argentina
(State or other jurisdiction of incorporation)
52-1910372
333-12977 Not Applicable
(Commission File Number) (IRS Employer Identification Number)
Alferez Pareja 256 (1107)
Buenos Aires, Argentina
(Address of Principal Executive Offices)
(541) 300-4007
(Telephone Number, Including Area Code)
(Not Applicable)
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
IMPSAT Corporation ("IMPSAT") made a public announcement on March
11, 1999 that it entered into an agreement with British Telecommunications plc
("BT") pursuant to which BT would acquire a 20% stake in IMPSAT. The public
announcement was made by means of a news release, the text of which is set forth
in Exhibit 99.1 hereto.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
The following exhibits are filed as a part of this report:
EXHIBIT NO.
99.1 News release. Filed herewith.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrants have duly caused this report to be signed on their behalf by the
undersigned hereunto duly authorized.
IMPSAT CORPORATION
By /s/ Guillermo Jofre
---------------
Guillermo Jofre
Chief Financial Officer
IMPSAT S.A.
By /s/ Guillermo Jofre
---------------
Guillermo Jofre
Finance Manager
Date: March 15, 1999
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EXHIBIT INDEX
EXHIBIT NO.
99.1 News release. Filed herewith.
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE IMPSAT
For More Information Contact:
Ricardo Verdaguer, Chief Executive Officer
or
Guillermo Jofre, Chief Financial Officer
IMPSAT Corporation
Buenos Aires, Argentina
Tel: 54-11-4300-4007, x3500
Fax: 54-11-4307-1525
IMPSAT CORPORATION ANNOUNCES INVESTMENT BY
BRITISH TELECOMMUNICATIONS PLC
(March 10, 1999 -- Buenos Aires, Argentina) -- IMPSAT Corporation ("IMPSAT" or
"the Company"), a leading provider of data transmission and private
telecommunications network services in Latin America, announced today that it
has entered into an agreement with British Telecommunications plc ("BT")
pursuant to which BT would acquire a 20% stake in IMPSAT.
Pursuant to the agreements signed by IMPSAT, BT and Nevasa Holdings Limited
("Nevasa"), IMPSAT's majority shareholder, BT will subscribe for newly issued
shares in IMPSAT for a total of $125 million and will purchase certain existing
shares from Nevasa for $25 million, thereby acquiring a minority interest in
IMPSAT. Upon the completion of the transaction, Nevasa will retain its majority
interest in IMPSAT and private equity funds affiliated with Morgan Stanley Dean
Witter will continue to own a minority interest in the Company. The investment
by BT is expected to be consummated after the receipt of any required approvals.
Sir Peter Bonfield, BT's chief executive, said: "Communications in Latin America
is a high growth area and I am particularly pleased to have IMPSAT as a partner
because of its excellent reputation and access to major corporate customers."
Mr. Ricardo A. Verdaguer, chief executive of IMPSAT, commented: "IMPSAT is a
young and successful company with ambitious plans for expansion in Latin
America. We are delighted that BT, with its wealth of experience in global
communications and its technical expertise, will be our partner at a
particularly exciting time in our development."
IMPSAT will also become a distributor of Concert, BT's global services company.
The addition of IMPSAT will extend Concert's global reach to 56 countries and
more than 800 cities and provide a springboard for further activity for BT in
Latin America.
-more-
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IMPSAT provides private network integrated data and voice telecommunications
services for national and multinational companies, financial institutions,
governmental agencies and other business customers in Latin America. IMPSAT
intends to capitalize on its operating presence in the largest countries in
Latin America and its gateway to the U.S. telecommunications networks through
its teleport in Ft. Lauderdale, Florida as well as its experience in data
transmission and technology integration and its highly qualified management
team.
Except for historical information contained herein, the matters discussed in
this press release contain forward-looking statements that involve risks and
uncertainties, including but not limited to economic, competitive, governmental,
regulatory and technological factors and the availability of adequate financing,
affecting the Company's growth, operations, markets, finances, products,
services, licenses and other factor's discussed in the Company's filings with
the Securities and Exchange Commission. Actual results may vary materially due
to these and other risks and uncertainties.
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