MFE-MediaForEurope has taken a 32.9% stake in Portuguese media group Impresa as part of a €17.3 million investment.
The deal follows an agreement between MFE, Impresa and Impreger, the holding company of the Balsemão family, which controls the Portuguese broadcaster.
Impresa’s broadcasting arm SIC runs SIC itself, the main free-to-air channel, plus the thematic/pay channels SIC Notícias, SIC Radical, SIC Mulher, SIC K, SIC Caras, SIC Novelas, SIC Internacional and streaming service OPTO.
Under the terms of the transaction, MFE subscribed to 82.5 million newly issued Impresa shares at €0.21 per share, equivalent to the six-month volume-weighted average price of Impresa stock prior to October 15, 2025. The share capital increase gives MFE a 32.934% stake in Impresa.
Following the transaction, Impreger retains 33.738% of the share capital and voting rights, while the remaining 33.328% is held in free float.
The investment was subject to regulatory confirmation from Portugal’s securities market regulator, the CMVM, that the agreement between MFE and Impreger does not constitute acting in concert for the purposes of exercising control over Impresa. As a result, no mandatory takeover bid is required.
Impresa, which is listed on Euronext Lisbon, reported consolidated revenues of €181.8 million and EBITDA of €18.8 million for the year ending December 31, 2025. Net interest-bearing debt stood at €126.9 million.
The Balsemão family will retain control of Impresa, with Francisco Pedro Balsemão appointed chairman of the board and chief executive. MFE will appoint three directors to the company’s board, one of whom will also sit on Impresa’s audit committee.
MFE said the investment forms part of its strategy to build growth across the pan-European entertainment and media sector. The transaction was financed entirely from the group’s own resources and does not affect its previously issued financial outlook for 2025.
