The success of Media For Europe (MFE) in its takeover bid for Mediaset España has been selected as the most outstanding transaction of July by the technological-financial platform Transactional Track Record (TTR). The operation allowed the group controlled by the Berlusconi family to increase its stake in Mediaset España from 55.69% to 82.92%.
This increase is in response to MFE’s intention to create a pan-European media group, capable of competing with the American industry, made up of national television companies producing local content and pan-European technological and commercial platforms.
Consultancy firm Tinkle was in charge of the communications consultancy for the operation. The law firms Garrigues and Pérez-Llorca acted as legal advisors and Clifford Chance as financial advisors.
The Italian group managed to successfully close the takeover bid for the 44.31% it did not control, following the acceptance of the majority of the shareholders to whom the bid was addressed and 27.23% of Mediaset España’s share capital.
Servimedia news agency reports that at the close of this transaction, MFE “was pleased with the successful outcome of the bid in the Spanish business, as it considered that the market had rewarded the European industrial project launched by MFE, giving the company more than three-quarters of Mediaset España’s voting rights”.
MFE, the news agency reports, will evaluate a possible merger of Mediaset España by MFE in which Mediaset España shareholders would receive MFE A Shares admitted to trading on Euronext Milan and which, if approved by the respective general meetings of shareholders, would lead to the extinction of Mediaset España and its delisting from the Spanish stock market.
In this case, MFE will apply for the admission to trading on the Spanish Stock Exchanges of all the outstanding MFE A Shares.