• Home
  • Top News
  • World
  • Economy
  • science
  • Technology
  • sport
  • entertainment
  • Contact Form
Tuesday, July 5, 2022
  • Login
No Result
View All Result
NEWSLETTER
BOB FM
No Result
View All Result
BOB FM
No Result
View All Result
Home Economy

Son of National Mukhtar Fernando Santos buys euronews – News

by Ursula Curtis
December 19, 2021
in Economy
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

The venture capital fund led by Luis Santos and son of a former member of the European Parliament will receive 88% of the European leg.

Alpac Capital, a Portuguese venture capital fund, will buy an 88% majority stake in Euronews from Media Global Networks, the “holding” of Egyptian businessman Naguib Sawiris. The value of the deal, which is expected to close at the end of the first quarter of 2022, was not disclosed.

This fund is led by Pedro Vargas David (son of former PSD European Parliament member Mario David, current political advisor to the Prime Minister of Hungary, Viktor Orbán) and Luis Santos (son of Portuguese mayor Fernando Santos). It has offices in Lisbon, Budapest (Hungary) and Dubai (UAE) and its portfolio of companies includes, for example, Caravela Seguros.

In a note published on Friday, Euronews explained that Alpac Capital had signed a “binding offer” for the majority of the group’s capital, allowing it to return to the control of European investors, “as it was in its assets”. The remaining 12% of euronews will remain in the hands of a consortium comprising several international media outlets, including RTP and RAI of Italy and France Télévisions of France.

Alpac pledges to “support the current business plan” of the European channel and to promote investment in digitization. A capital increase was also planned to obtain financing.

Last year, according to Reuters, euronews’ advertising revenue fell by 40% due to the Covid-19 pandemic, with the channel closing in 2020 with a loss of around 16 million euros.

See also  Iran says deal can be reached if West has 'good faith'

Ursula Curtis

“Writer. Analyst. Avid travel maven. Devoted twitter guru. Unapologetic pop culture expert. General zombie enthusiast.”

Ursula Curtis

Ursula Curtis

"Writer. Analyst. Avid travel maven. Devoted twitter guru. Unapologetic pop culture expert. General zombie enthusiast."

Next Post

Germany has ordered the isolation of immigrants from the United Kingdom

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Navigate

  • Home
  • Top News
  • World
  • Economy
  • science
  • Technology
  • sport
  • entertainment
  • Contact Form

Pages

  • About Us
  • Privacy Policy
  • DMCA
  • Editorial Policy
  • Contact Form
  • About Us
  • Privacy Policy
  • DMCA
  • Editorial Policy
  • Contact Form

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • About Us
  • Contact Form
  • DMCA
  • Editorial Policy
  • Privacy Policy

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In