Imagina seeks offers for majority stake as other shareholders join sale - report (translated)
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Imagina’s main shareholder MediaPro owners Jaume Roures and Taxto Benet are ready to sell part of their stakes jointly with fellow shareholder Torreal, El Confidencial reported, citing several unspecified sources.
As a consequence of this, offers for 51% of Imagina are being received instead of just the 23% stake held by Torreal, added the report.
Torreal’s advisers Lazard and Citi are seeking a majority stake in Imagina, the Spanish-language item said. Roures and Benet are ready to sell if the initial valuation of Imagina - EUR 2.5bn - is confirmed, the report said.
MediaPro is currently Imagina’s largest shareholder with a 35% stake, followed by the UK advertising group WPP [LON:WPP] (23%), Torreal (23%) and the Mexican group Televisa (19%).
Televisa has also expressed interest in selling at the above valuation, the report said.
Imagina potential bidders include France's Vivendi [EPA:VIV], the UK’s Liberty Media, Germany's Berstelman, the PE firms CVC Capital Partners and Apax Partners; and the Chinese companies Dalian Wanda, Everbright Securities, Beifjing Baofeng, PPTV, Alibaba - via its unit AliSports - and Tencent, El Confidencial said. Telefonica has ruled out an offer, the report added.