BRIEF-Globe Telecom Says It Seals JV Partnership With ST Telemedia Global Data Centres & Ayala Corp

April 4 (Reuters) – Globe Telecom GLO.PS:

• OFFICIALLY SEALS JV PARTNERSHIP WITH ST TELEMEDIA GLOBAL DATA CENTRES & AYALA CORP

• UNDER AGREEMENT, STT GDC AND AYALA TO SUBSCRIBE TO NEW SHARES IN KARMANEDGE, INC., A UNIT OF GLOBE

• CAPITAL INFUSION BY NEW PARTNERS WILL RESULT IN A POST-MONEY VALUATION IN THE RANGE OF US$350 MILLION

• GLOBE WILL HAVE 50% OWNERSHIP IN KARMANEDGE, STT GDC WITH 40%, AYALA TAKING UP BALANCE

• THROUGH EXECUTION OF DEAL, GLOBE WILL RECOGNIZE PRE-TAX GAIN OF AROUND 10.5 BILLION PESOS

Source text for Eikon: ID:nPSX2YFMdx

Further company coverage: AC.PS

((Reuters.Briefs@thomsonreuters.com;))