May 13 (Reuters) - Sirius XM Holdings Inc SIRI.O
* SiriusXM enters into agreement to back Sirius XM Canada's
going private transaction
* Siriusxm economic interest in Canadian operations expected
to increase to 70 pct
* Following closing of recapitalization, Sirius XM Canada
will continue to operate under canadian voting control
* Sirius XM Holdings Inc says expects to contribute
approximately US$275 million to facilitate transaction
* Says licensing and services agreements between SiriusXM
and sirius XM Canada will be renewed
* Slaight communications,Obelysk Media will own 67 pct of
voting shares of Sirius XM Canada,30 pct of economic interest in
recapitalized business
* Siriusxm will own 33 pct of voting shares of Sirius Xm
Canada
* Under plan, Siriusxm,certain canadian shareholders will
form new co to acquire shares of Sirius Xm Canada not already
owned by them
* No more than 35.0 million shares of Siriusxm's common
stock will be issued in connection with transaction.
Source text for Eikon: ID:nPn4msQg9a
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