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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 Event: November 1, 1996
United International Holdings, Inc.
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(Exact Name of Registrant as Specified in Charter)
Delaware 0-21974 84-1116217
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification #)
incorporation)
4643 South Ulster Street, Suite 1300, Denver, CO. 80237
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(Address of Principal Executive Office)
(303) 770-4001
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(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
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On November 1, 1996, a wholly-owned subsidiary of United International Holdings,
Inc. (the "Company"), acquired a 100% ownership interest in two cable television
companies and one MMDS system serving a total of approximately 37,500
subscribers and 80% of a third company serving approximately 23,500
subscribers. The sysytems pass approximately 116,000 homes in Bahia Blanca and
Punta Alta, Argentina. The Company has a call option and the shareholders have a
put option, in each case first exercisable in 18 months, on the remaining 20% of
the third cable company. The total purchase price is approximately $52.3 million
(which is subject to adjustment based upon completion of post closing
adjustments by the Company), of which $26.0 million was paid at closing and the
balance will be paid over an 18-month period. The purchase price for the
put/call option is estimated to be approximately $4.4 million. The Company
purchased the interest from several Argentina individuals.
The purchase price was determined by negotiations among the parties. The Company
considered discounted cash flow analysis along with an analysis of internal
rates of return for the Company in agreeing to the price. The amounts described
above are exclusive of interest on deferred payments. The transfers are subject
to certain post-closing governmental approvals which the Company expects to
obtain in due course.
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
UNITED INTERNATIONAL HOLDINGS, INC.
Date: November 15, 1996
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By: /S/ Bernard G. Dvorak
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Bernard G. Dvorak
Chief Financial Officer
(A Duly Authorized Officer and Principal Financial Officer)
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