PRISA sells its stake in Media Capital to several investors

The purchase and sale of Media Capital shares represents the entire shareholding (64.47%) held by PRISa through its subsidiary Vertix in the Portuguese company.

After breaking down the operation with co, finally HURRY has disposed of its stake in the Portuguese Media Capital. The price of the operation, 36.8 million of euros, represents a premium of 63% compared to the takeover bid launched by Cofina over Media Capital on August 12.

After carrying out, through a financial entity, a market survey to search for potential investors, Vertix, a subsidiary wholly owned by PRISA, has signed independent agreements with a plurality of investors of purchase and sale of Media Capital shares, which together represent the entire shareholding (64.47%) held by Vertix in the Portuguese company.

The purchases and sales will be carried out simultaneously through independent block transfers of the shares for a total price of 36.8 million euros. This supposes a implicit valuation of the company (enterprise value) of 150 million of euros and a premium of 63% compared to the price per share offered by the Cofina entity in its voluntary public offer for Media Capital shares published on August 12.

The operation, which has been authorized by Pluris within the framework of the shareholders' agreement signed with Vertix, is conditional on obtaining a waiver from certain financial creditors of PRISA, as well as the authorization of the Portuguese regulatory authorities that may be necessary.

The sale is part of the divestment policy of non-strategic assets initiated by PRISA, and is in line with the already announced roadmap of focusing on the strengthening of Santillana and the digital transformation of its media in Spain and Latin America.

Media Capital has in its investment portfolio TVI, leading television in Portugal that brings together the news channel TVI24, in addition to the channels TVI Ficción, TVI Internacional, TVI Reality and TVI Africa.

In radio, owns one of the most prestigious and transversal national radio groups: Media Capital Radio (MCR), which includes the Radio Comercial station, audience leader; M80; City; SmoothFM; VodafoneFM; and the online radio website, Cotonete. For its part, the group also has the Media Capital Digital division, whose main asset is IOL.

In the audiovisual production sector, Plural Entertainmentt is one of the largest producers in the Iberian Peninsula, standing out in the area of ​​fiction in Portuguese and in the area of ​​entertainment in Spanish.