The MFE – Media for Europe group, controlled by the Berlusconi family, will take a 32.934% stake in Impresa, owner of Expresso and SIC, according to the investment agreement communicated this Wednesday to the Securities Market Commission (CMVM). The acquisition will result from a capital increase. The Balsemão family, through Impreger, will hold a 33.738% stake.
In the operation in question, MFE will subscribe to new Impresa shares worth up to €17.3 million, at an average price per share of €0.21. MFE and Impreger will also sign a shareholders’ agreement on the future governance of Impresa, which “assigns rights to MFE in line with its participation and provides for continuity of control on the part of Impreger”, can be read in the statement to the CMVM.
In another statement to the market, Impresa reports that in October its net interest-bearing debt fell 2% compared to June, to €145 million. In the space of a decade, the company’s debt decreased by 26%, or €51 million. Impresa estimates that at the end of this year, and without considering extraordinary events, the debt will be below the October level.
“The full effectiveness of the investment agreement and, therefore, the subscription of the capital increase, is dependent on the due regulatory authorizations, confirmation, by of banking institutions creditoras of Impresa, that the conclusion of the agreement does not determine the activation of resolution or early maturity clauses in financing contracts and the approval, by the General Assembly of Impresa, of authorization for the Board of Directors to deliberate and carry out the capital increase”, explains Impresa, in a statement.
“We are very proud com this partnershipsince the EASY is a group of media leader in Europe, with whom we share a vision of the future based on content production quality, close to spectators e already technological innovation. My family and I would like to thank Pier Silvio Berlusconi, his family and the entire MFE team for the trust and spirit of collaboration with which this agreement was built”, commented the executive president of Impresa, Francisco Pedro Balsemão.
“We are convinced that we will have the capacity to develop tangible and lasting synergies that benefit all parties involved, in particular with regard to its growth, the expansion of digital activity and the potential development of new business areas”, added the manager.
“Francisco Pinto Balsemão’s legacy in shaping the Portuguese media landscape is highly recognized and is highly regarded by MFE. The continued involvement of the Balsemão family will be fundamental in boosting Impresa’s strategic direction and facing the challenges that lie ahead”, highlighted, for its part, the MFE group.