Berggruen Acquisition Holdings Ltd. 1114 Avenue of the Americas New York, New York 10036 and Marlin Equities II, LLC 555 Theodore Fremd Avenue Suite B-302 Rye, New York 10580
Exhibit 10.2
Berggruen Acquisition Holdings Ltd.
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
and
Xxxxxx Equities II, LLC
000 Xxxxxxxx Xxxxx Xxxxxx
Xxxxx X-000
Xxx, Xxx Xxxx 00000
000 Xxxxxxxx Xxxxx Xxxxxx
Xxxxx X-000
Xxx, Xxx Xxxx 00000
Date: August 4, 2010
RE: Amended and Restated Securities Surrender Agreement
Gentlemen:
Reference is made to (i) the Amended and Restated Business Combination Agreement, dated as of
August 4, 2010 (the “Business Combination Agreement”), by and among Liberty Acquisition
Holdings Corp. (“Liberty”), Liberty Acquisition Holdings Virginia, Inc. and Promotora de
Informaciones, S.A. (“Prisa”) and (ii) the Securities Surrender Agreement, dated as of May
7, 2010 (the “Original Securities Surrender Agreement”), by and among Liberty, Berggruen
Acquisition Holdings Ltd. and Xxxxxx Equities II, LLC. Unless otherwise defined herein,
capitalized terms are used herein as defined in the Business Combination Agreement (or if
applicable, the Further Amended Business Combination Agreement (as defined below)).
Pursuant to Section 9.19 of the Business Combination Agreement, immediately prior to the
Reincorporation Effective Time, Liberty shall purchase from the Sponsors:
(i) an aggregate of 2,796,000 shares of Liberty Common Stock and 24,771,900 Liberty Warrants
for an aggregate purchase price of $775.00 (the “Minimum Acquisition”); and
(ii) an aggregate of an additional 2,600,000 shares of Liberty Common Stock for an aggregate
purchase price of $260.00 if the provisions of Section 3.5(c)(iv)(C) of the Business Combination
Agreement (or, if applicable, the Further Amended Business Combination Agreement) shall be
applicable (the “First Conditional Acquisition”).
If on or after the date hereof, pursuant to Section 9.22 of the Business Combination Agreement, the
provisions of the amendment to the Business Combination Agreement set forth in Schedule III thereto
becomes operative (as further amended by such amendment, the “Further Amended Business
Combination Agreement”), then pursuant to Section 9.19 of the Further Amended Business
Combination Agreement, immediately prior to the Reincorporation Effective Time, Liberty shall
purchase from the Sponsors either an additional (x) 500,000 shares of Liberty Common Stock for an
aggregate purchase price of $50.00 if the provisions of Section 3.5(f)(i) or Section 3.5(f)(ii)(C)
of the Further Amended Business Combination Agreement shall be applicable or (y) 1,000,000 shares
of Liberty Common Stock for an aggregate purchase price of $100.00 if the provisions of Sections
3.5(f)(ii)(D) of the Further Amended Business Combination Agreement shall be applicable (either
acquisition, the “Second Conditional Acquisition”).
Pursuant to Section 10.3(i) of the Business Combination Agreement (or, if applicable, the Further
Amended Business Combination Agreement), it is a condition precedent to the obligations of Prisa
that Liberty shall have completed the Minimum Acquisition (and if the requisite conditions are
satisfied, the First Conditional Acquisition and the Second Conditional Acquisition).
To that end, each Sponsor hereby agrees to sell to Liberty, and Liberty hereby agrees to purchase,
an aggregate of 1,398,000 shares of Liberty Common Stock and 12,385,950 Liberty Warrants for a
total purchase price to each Sponsor of $387.50; provided, however, that each Sponsor
hereby further agrees to sell to Liberty, and Liberty hereby further agrees to purchase: (i) an
aggregate of 1,300,000 additional shares of Liberty Common Stock for a total purchase price to each
Sponsor of $130.00 if the provisions of Section 3.5(c)(iv)(C) of the Business Combination Agreement
or the Further Amended Business Combination Agreement shall be applicable and (ii) either an
additional (x) 250,000 shares of Liberty Common Stock for an aggregate purchase price of $25.00 if
the provisions of Section 3.5(f)(i) or Section 3.5(f)(ii)(C) of the Further Amended Business
Combination Agreement shall be applicable or (y) 500,000 shares of Liberty Common Stock for an
aggregate purchase price of $50.00 if the provisions Sections 3.5(f)(ii)(D) of the Further Amended
Business Combination Agreement shall be applicable. The foregoing sale(s) and purchase(s) shall
take place immediately prior to the Reincorporation Effective Time (and in all events after the
vote at the Liberty Stockholder Meeting).
Each of the parties hereto agrees that Prisa is intended to be, and shall be, a third party
beneficiary under this letter agreement and shall be entitled to directly enforce Liberty’s rights
hereunder.
The obligations of the parties hereunder shall terminate if the Business Combination Agreement
shall be terminated for any reason (other than the failure of the condition specified in Section
10.3(h) of the Business Combination Agreement or Further Amended Business Combination Agreement).
Each of the parties hereto acknowledges and agrees that this Amended and Restated Securities
Surrender Agreement shall supersede the Original Securities Surrender Agreement in its entirety and
the Original Securities Surrender Agreement shall be of no further force and effect.
-signature page to follow-
Please acknowledge your agreement with the foregoing by executing this letter in the space provided
below.
Yours faithfully, Berggruen Acquisition Holdings Ltd |
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By: | /S/ Xxxxx Xxxxxxxxx | |||
Name: | Xxxxx Xxxxxxxxx | |||
Title: | Secretary | |||
Xxxxxx Equities II, LLC |
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By: | /S/ Xxxxxx X. Xxxxxxxx | |||
Name: | Xxxxxx X. Xxxxxxxx | |||
Title: | Managing Member | |||
Acknowledged and Agreed: Liberty Acquisition Holdings Corp. |
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By: | /S/ Xxxxx Xxxxxxxxx | |||
Name: | Xxxxx Xxxxxxxxx | |||
Title: | Secretary | |||
[Amended and Restated Securities Surrender Agreement]