Cofina confirms Cristiano Ronaldo’s MBO offer and asks for 60 days for analysis

Cristiano Ronaldo is “very excited” at the prospect of becoming a Cofina Media shareholder, according to Jornal de Negócios this Friday. “The prospect of investing in the media in your country, in a leading project” is very stimulating for the player, assures a source close to Cristiano Ronaldo, who is quoted by the publication.

The reaction comes after official confirmation by Cofina Media CEO Luis Santana that the star player will become Cofina Media’s benchmark shareholder with a stake of around 30% in an ongoing “management buyout” (MBO) process. .

“Cristiano Ronaldo, the best football player of all time, an outstanding athlete and a reference Portuguese that we as a nation should be proud of, with values ​​​​of exactingness, rigor, work and resilience, participates in a large media project that shares the same values, naturally will always be a source of great satisfaction and pride for the team that develops Cofina Media’s Management Buyout for presentation to shareholders,” said the CEO of Cofina Media, the group that owns Correio da Manhã. , CMTV, Record newspaper, Sábado magazine, TV Guia and Jornal de Negócios.

However, after the release of the news, CMVM decided to suspend trading in Cofina shares. The company responded with a statement confirming receipt of a binding offer to acquire all shares representing its capital, signed by Ana Diaz and Luis Santana (Director of cofina Media) and Octavio Ribeiro (former editorial CEO), who will be joined by a group of investors. The offer includes a price based on an “enterprise value” of 75 million euros, subject to conditions and adjustments.

Cofina also discloses in the statement that it is in the preliminary stages of evaluating the Proposal and the Bid and has requested a unilaterally extended period of 60 days to review it.