The completion of the sale of Cofina to a group of managers and investors (MBO) has generated a preliminary estimated profit of around eight million euros, the owner of Correio da Manhã said in a statement to the market.
In a note published by the Securities Market Commission (CMVM), Cofina said that “the completion of the transaction results in the best value added estimate to date in terms of the consolidated financial statements of Cofina SGPS”, taking into account, taking into account the price, the preliminary costs estimated as of that date, related to the transaction and “unaudited pro forma net assets of the subsidiary Cofina Media amount to approximately eight million euros.”
Despite this, “without prejudice to the foregoing and since this is only an estimate which will still be subject to review by Cofina SGPS auditors”, “disclosure of the exact value of realized value added” may “not exactly correspond to the value of the estimated value added and “will occur at the same time as publication of the Cofina SGPS Annual Report and Accounts 2023.”
Cofina announced on November 8 that it had completed the sale to the company’s employees, approved late last month at the group’s general meeting of shareholders, according to a statement to the market.
In information published by CMVM, the company recalls that on October 26, security holders decided to “sell all shares representing the share capital and voting rights of Cofina Media SA in accordance with the final revised version.” proposal (the “Best and Final Offer” or “BAFO”),” which was “subscribed by members of Cofina Media’s management team and a group of investors.”
Employees and investors involved include Luis Santana, Ana Diaz, Octavio Ribeiro, Isabel Rodriguez, Carlos Rodriguez, Luis Ferreira, Carlos Cruz, Cristiano Ronaldo, Domingos Vieira de Matos, Paulo Fernandez and João Borges de Oliveira, through Expressão Livre, SGPS . .
According to the note, “following the above discussion on Cofina’s approval, SGPS advises that the transaction was completed on this date in accordance with the terms and conditions set out in the BAFO submitted by the MBO. [quadros da empresa e investidores] and timely disclosed to the market in a statement dated September 15, 2023.”
Author: Lusa
Source: CM Jornal
I’m Dave Martin, and I’m an experienced journalist working in the news industry. As a part of my work, I write for 24 News Reporters, covering mostly sports-related topics. With more than 5 years of experience as a journalist, I have written numerous articles on various topics to provide accurate information to readers.