Spain: Orient Hontai (CHN) buys 54% of Imagina Group (Mediapro) and rights of LaLiga

The Chinese investment fund Orient Hontai Capital has agreed to buy a 54% stake in Imagina Group, the parent group of Mediapro. "The deal has been made. We hope to close it during the first quarter of 2018. The deal was made at a multiple of 10 times 2016 core profit (EBITDA) and values the company at €1.6bn ($1.9bn)," said Jaume Roures, president of the Spanish media group, on 17/10/2017.

The selling shareholders are Spanish private equity firm Torreal, which holds 23 percent of the share capital; Mexican broadcaster Televisa (TLVACPO.MX), which owns 19%; and one of the firm’s founders Gerard Romy, who has 12%. Under a shareholders’ pact with Orient Hontai, Roures and Tatxo Benet, who are the other two founders of Imagina with Romy and still each own a 12% stake, will remain at the helm of the company, according to multiple media sources.

Mediapro has owned, as part of a joint venture with the Qatari pay-TV group beIN Media Group, the beIN Sports channels in Spain (launched on 08/01/2015) since 14/04/2015. LaLiga also attributed the international marketing of the audiovisual…