Orient Hontai to inject €620m into Mediapro
November 23, 2021
From David Del Valle in Madrid
Chinese Group Orient Hontai is set to increase its share of in Spanish TV group Mediapro to 76 per cent in exchange for a €620 million injection to save the group from bankruptcy.
Some €150 million will be paid immediately through subordinated debt. The additional €470 million will then be approved by a shareholding meeting to enlarge social capital.
With the move, Orient Hontai will control 76 per cent of the company, with WPP and the president Jaume Roures taking 24 per cent.