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Wednesday, September 28, 2022
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Law firm trio advises on TTR´s July deal of the month

Pérez-Llorca has advised Media for Europe on its acquisition of 27.23% stake in Mediaset España, represented by Garrigues, for €507 million. Clifford Chance advised Unicredit, Intensa San Paolo España, BNP Paribas Sucursal en España and Caixabank on the acquisition fnance, a deal recognised by TTR as July´s deal of the month

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Media For Europe (MFE) has managed to reach 82.92% of the capital and voting rights of Mediaset España, after successfully closing the takeover bid for the 44.31% it did not control, having achieved a level of acceptance of shares representing 61.45% of the shares to which the bid was addressed and 27.23% of the share capital of Mediaset España. Media For Europe controlled 55.69% of Mediaset España’s share capital at the time of the takeover bid.

MFE also communicated its decision to waive the minimum acceptance condition in the terms described in the Prospectus and, consequently, to acquire all the shares that have accepted the bid, representing the aforementioned 27.23% of its share capital.

This transaction is a further step towards achieving MFE’s goal of creating a pan-European media and entertainment group, with a leading position in its local markets, greater scale to compete, potential to further expand its geographic footprint across Europe and able to compete on an equal footing in the European entertainment and media industry by leveraging high quality local content, increased investment in technology and strengthened financial resources.

Pérez-Llorca advised MFE with a team comprising partners Cosme Colmenero, Javier Carvajal, Javier Gómez de Miguel, senior partner Pedro Pérez-Llorca, associates Carlos Rubio Bremard and Ignacio Salas, and lawyers Gabriel Borgogno Córdoba and Mikel Ataun Ezquerro.

Garrigues advised Mediaset España with a team formed by presendent Fernando Vives, partner Álvaro López-Jorrín, and associates Carlos Lozano Sanz Diez de Ulzurrun and Juan Blanco San Pastor.

Clifford Chance advised the financial entities on the acquisition finance with a team made up of partner Epifanio Pérez and senior associate Ignacio Magariños Repollés.

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