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Prisa loses 29 million after selling 30% of Media Capital for 10.5 million

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The Grupo Prisa has closed the sale of the 30.22% from Media Capital to Pluris Investments, company of the Portuguese businessman Mario Ferreira. The operation has been carried out by means of a block transfer of the shares by a price of 10.5 million euros.

However, this assumes an enterprise value of approximately 130 million euros, and implies a accounting loss in Prisa's individual and consolidated accounts of approximately 29 million.

Prisa will continue to be the sole controlling shareholder of Media Capital and there will be no shareholders agreement between the parties since, according to the Spanish group, Pluris is an ideal co-investor in Media Capital given the commitment you have shown with Portugal and its economy, support and help the management team of its Portuguese affiliate, its financial experience and its ability to provide, if necessary, additional financing. "

Prisa has changed its plans on Media Capital after the sale of almost 100% to the Portuguese group Cofina failed., dedicated mainly to the media, for 170 million euros. Thus, the crisis has lowered the valuation of the company by 40 million.

Prisa considers Media Capital a non-strategic asset and maintains its focus on the strengthening of Santillana and in the digital transformation of its media in Spain and Latin America.

For this reason, Prisa and Pluris are committed to search in a coordinated way for new investors in Media Capital, under a new business plan, which will facilitate the divestment of the Spanish group.

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