By Andrea Hargraves 
September 22, 2023 – 23:42
Approval of the MBO proposal now depends on a positive vote at a general meeting of shareholders to be held “as soon as possible.”
Cofina’s board of directors indicated on Friday that it is recommending to shareholders the sale of Cofina Media, owner of Negócios, Correio da Manhä, CMTV, Record and Sábado, to a “management buyout” (MBO) at the expense of Media Capital.
In a statement published in the CMVM, Covina’s management evaluated more favorably the proposal submitted by the MBO, which includes Luis Santana, Ana Dias, Octavio Ribeiro, Isabel Rodriguez, Carlos Rodriguez, Luis Ferreira, Carlos Cruz and Cristiano Ronaldo. Domingos Vieira de Matos, Paulo Fernandez and João Borges de Oliveira.
The offer from MBO values Cofina Media at €56,793,428.97, in terms of “share value”. The proposal submitted by Media Capital, owner of TVI, He has it for reference One “that it“share value” in 54.454,922 euros, increaseable up to 56 million euros.
Approval of the MBO proposal now depends on a positive vote at the general meeting of shareholders to be held “as soon as possible”.
According to business