China’s Orient Hontai takes control of Mediapro

China’s Orient Hontai Capital has agreed to buy 53.5% of Spanish group Imagina, the company born from the merger between Mediapro and Globomedia, for USD 1.2 billion. The transaction is subject to obtaining of regulatory permissions and is expected to be closed in second quarter of 2018.
The Chinese fund acquired shares of Torreal (22.5%), Televisa (19%) and Mediavideo (12%), which totals 53.5%. The rest of the shareholders, WPP group (22.5%) and two of group’s founding partners, Tatxo Benet (12%) and Jaume roures (12%), maintain its participation in Imagina. The management of the company will remain in hands of Jaume Roures and Tatxo Benet.
In a statement sent to the Mexican Stock Exchange (BMV), Grupo Televisa announced the sale of its 19% stake in Imagina. “The Company plans to dispose select non-core operations allowing it to focus its resources on its content and distribution assets. The sale of Televisa’s stake in Imagina is the first step in this undertaking”, said the media giant. Upon closing of the transaction, total proceeds to Televisa will be approximately €284 million (USD 354 million).
Mediapro owns the TV rights of the Spanish Soccer League, in addition to the UEFA Champions League. In Chile, the Spanish company manages the commercial and television rights of the national team, in partnership with Turner.