Cofina confirms Cristiano Ronaldo in proposed purchase of media business


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Cofina, in a statement to the market regulator, confirmed that Cristiano Ronaldo is part of the proposal to buy the media company, through a vehicle company with other investors called Expressão Livre.

Cofina – SGPS, through the statement to the Portuguese Securities Market Commission (CMVM), makes public that it has received clarifications regarding the binding offer for the acquisition of all the shares representing the share capital of Cofina Media.

“The potential buyer, in accordance with the clarifications provided on July 3, 2023, is a vehicle company called Expressão Livre, SGPS, S.A”, it informs, specifying in alphabetical order the names of the investors that make it up.

The company will be owned, directly or indirectly, by Luis Santana, Ana Dias, Octávio Ribeiro, Isabel Rodrigues, Carlos Rodrigues, Luís Ferreira, Carlos Cruz, Cristiano Ronaldo, Domingos Vieira de Matos, Paulo Fernandes and João Borges de Oliveira.

“Considering that some of the investors are simultaneously members of Cofina’s board of directors, Cofina will ensure strict compliance with all legal provisions applicable to transactions with related parties,” he said.

On June 30, Cofina SGPS received a binding offer for the purchase of the entire capital of Cofina Media, which valued the company (‘enterprise value’) at 75 million euros.

In a statement to the regulator that day, it clarified that it had received a binding offer and a revised binding offer, respectively, for the acquisition of all the shares representing the share capital of Cofina Media, with a price calculated considering an ‘Enterprise Value’ of 75 million euros, subject to conditions and adjustments.

The offer was subscribed by Cofina Media directors Ana Dias and Luís Santama, and by former Correio da Manhã director Octávio Ribeiro, and other investors at the time not yet identified.

The statement came after news that Cristiano Ronaldo was going to be an investor in Cofina Media, which led the regulator to suspend the listing of the securities on the stock exchange that day.

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