China’s Orient Hontai ups to 85% in Mediapro
September 16, 2021
From David Del Valle in Madrid
Orient Hontai will increase its shares in Spain’s TV group Mediapro by 30 per cent, up to 85 per cent for €620 million, according to El Confidencial.
The Chinese group will pay €400 million to amortise part of the Mediapro’s debt €900 million whereas the rest, €220 million will be destined to increase the social capital.
With the move, the British WPP has reduced its share to 7 per cent and Jaume Roures, president of Mediapro and Tatxo Benet, to 8 per cent.
Mediapro had requested the Government financial aid of €230 million to re-float the company.
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