Squirrel Media acquires 100% of Grupo Ganga

Ganga Group, a legendary media group with productions to its credit as relevant as Tell me how it happened and real estate assets such as a studio in Pinto (Madrid) of more than 8,000 square meters, becomes part of Squirrel Media after the company has reached an agreement for the acquisition of the remaining 25% of the shares that make up the business conglomerate. In this way, Squirrel will hold 100% of the company's share capital.

The described acquisition will be financed entirely through the exchange of new shares of Squirrel Media, issued in a restricted capital increase (excluding pre-emptive subscription rights). The exchange has been agreed at a price of 3.20 euros per share, which involves the issuance and delivery of 258,269 Squirrel shares. Additionally, Squirrel and the founders of the Ganga Group have also agreed to the capitalization of the deferred amount pending derived from the acquisition of 75% of the Group. This capitalization will also be carried out through a restricted capital increase, at an exchange price of 3.20 euros per share, which implies the issuance and delivery of 195,735 shares.

Consequently, the total number of shares to be delivered by Squirrel to the founding partners of Grupo Ganga amounts to 454,004 shares (258,269 + 195,735), which would represent 0.498% of the share capital of Squirrel Media post-capital increase. As part of the agreement, Squirrel and the founders of Grupo Ganga have agreed to a three-year lock-up commitment during which the shares received in this agreement may not be transferred or loaned. With the operations described, Squirrel, in addition to integrate 100% of the Ganga Group, complete and finalize the entire payment agreed upon by said integration.

At an industrial level, Ganga enjoys great global recognition, accumulating more than one hundred awards throughout its successful career since its establishment in 1997. In addition to audiovisual productions, Grupo Ganga is the owner of an extensive and prominent catalog, with relevant formats in all categories, among which stand out Tell me how it happened, HIT, Missing, Incredible duos, A country to eat o Happiness according to Vicente Ferrer. Likewise, the operation includes the acquisition of all the real estate assets of the Ganga Group, among which stands out its studio in Pinto (Madrid) of more than 8,000 m2 divided between outdoor locations, sets, editing booths and post-production rooms.

To Pablo Pereiro Lage, president and CEO of Squirrel, “this acquisition means successfully completing the integration process that began in 2022, aligning all the economic and professional interests of the founders of the Ganga Group in Squirrel, who in addition to continuing to manage the company become shareholders of the company, which demonstrates full confidence in Squirrel, its project and the consequent revaluation of its shares.”