Spain’s Prisa sells rest of shares in TVI owner Media Capital for €37M

  • Lusa
  • 4 September 2020

Prisa reached an agreement to sell all 65% of Media Capital to a group of investors for 36.85 million euros.

Prisa, a Spanish media group, has sold all of its shares in Media Capital, a Portuguese company that has a controlling stake in broadcaster TVI, for €36.85 million, according to information made public on Friday via Spain’s securities markets regulator, the CNMV.

“A wholly owned subsidiary of Prisa (Vertix), today signed independent share purchase agreements with several investors of the Portuguese listed company Grupo Media Capital SGPS, S.A. (‘Media Capital’), which together represent the total stake (64.47%) held by Vertix in Media Capital,” the statement reads.

Prisa, the owner of leading daily newspaper El País, started to sell off its shares in Media Capital on 14 May, when it sold a 30.22% stake to Portuguese businessman Mário Ferreira, through his Pluris Investments, for €10.5 million.

The transaction reduced Prisa’s stake to 64.47% from the previous 94.69%.