The shareholders of Cofina SGPS approved this Thursday at an extraordinary general meeting the sale of the entire company Cofina Media, owner of Correio da Manhã, CMTV, Negócios, Sábado and Record, to an investor group – Expressão Livre, which brings together current and former employees of the company (“management buyout – MBO” ), as well as other investors, including Cristiano Ronaldo.
The proposal was approved by 99.64% of votes present and 0.36% abstained. At the main meeting, 71.28% of the share capital and voting rights were represented.
The proposal presented by MBO, which includes Luis Santana, Ana Diaz, Octavio Ribeiro, Isabel Rodriguez, Carlos Rodrigues, Luis Ferreira, Carlos Cruz, Cristiano Ronaldo, Domingos Vieira de Matos, Paulo Fernandes and João Borges de Oliveira, is assessed by Cofina Media at EUR 56,793,428.97 in terms of “cost of share capital”.
Offer from Media Capital, owner of TVI, has as a guideline a “value of equity capital” of €54,454,922, which can be increased to €56 million. However, Media Capital withdrew its offer.
Author: Business magazine
Source: CM Jornal
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