The Orient Hontai Capital Investment Fund (OHC), China's first private capital group, has injected 620 million euros in Mediapro, so that it will stop approximately 80% of the capital.
In a statement, MediaPro has reported that, from these 620 million euros, 150 million will be allocated to "cover the needs of the company" and another 470 million will serve "an additional capital increase". The group will thus reduce its indebtedness below three times its EBITDA - gross exploitation resulted.
The capitalization agreement, which should still be ratified in the coming days, contemplates that the founders of the Tatxo Benet company and Jaume Rours continue at the forefront of it.
Although the agreement is still "in the documentation", MediaPro reports that, given this operation, "has been negotiating for months with its debt holders an agreement that reflects in its conditions the new financial situation" of the group.
According to the company, the capital injection will allow the group to "operate in the market with the same ambition with which it has done it in its more than 25 years of history."
MediaPro plans to invoice this 2021 more than 1,200 million euros and close the exercise with an EBITDA of 160 million euros, above 124 million budget.
With activity on four continents in the areas of content production, provision of audiovisual services, audiovisual rights management and development of digital and innovation projects, MediaPro recognizes in its statement that has suffered "a strong impact" due to the pandemic, already That "all their business units were resented from the paralling of activities decreed throughout the world."
In February 2018, Orient Hontai became a majority shareholder of Mediapro, with 53.5% of the capital, when buying Torreal's shares (22.5%), Televisa (19%) and MediaVideo (12%) by 1.016 millions.
The British firm WPP (22.5%), another of Mediapro's partners, maintained his participation in the company, as did the two founders of the group, Tatxo Benet (12%) and Jaume Rours (12%).Date Of Update: 27 November 2021, 07:28