Spain’s National Securities Market Commission (CNMV) has approved the voluntary takeover of Mediaset España by MFE- MediaforEurope (MFE).
In a statement, CNMV says that MFE’s offer was for 138,763,424 shares in Mediaset España, representing 44.31% of its share capital. MFE already owns a 55.69% stake in Mediaset España, either directly or indirectly.
CNMV says the consideration offered consists of nine newly issued MFE A shares and €3.72 in cash for each two Mediaset España shares. The new MFE A shares will be listed on Euronext Milan, where all MFE shares are already listed.
CNMV concludes by saying that the bidder has presented five guarantees for a total of €258,300,000 issued by Unicredit, Banco BPM, Intesa Sanpaolo branch in Spain, BNP Paribas branch in Italy and CaixaBank, (€51,660,000 each), for the cash part of the price (€258,099,968.64).
