Mediapro: group can't assume debt and requests €230m in aid from Spanish state-owned company (press)

The Spanish audiovisual group Mediapro is unable to cover its €920m debt (€904m at 31/12/2020 according to figures communicated by Mediapro on 20/04/2021) and is requesting €230m from the Spanish state-owned company SEPI (Sociedad Estatal de Participaciones Industriales), according to the Spanish newspaper El Confidencial on 10/05/2021.

The Chinese fund Orient Hontai Capital, majority shareholder of the holding company Imagina, Mediapro's parent company, no longer wishes to inject cash into the company and without the help of SEPI, the Spanish group could be placed under the control of its creditor banks "this summer," according to El Confidencial.

Mediapro had taken out a €55m loan from Deutsche Bank (the main bank), Goldman Sachs and Citi, reported El Confidencial on 30/06/2020. This loan was conditional on the group's shareholders injecting the same amount into the company through a capital increase, i.e. an additional €55m. In total, €120m had been injected into Imagina, Mediapro's parent company, explained the Spanish newspaper.

• The Spanish media group Imagina Group, the…