The Bel group and Global Media, led by businessman Marco Galinha, are interested in selling their stake in Lusa, several sources confirmed to Lusa.
Jornal Económico (JE) reported today that the Bel and Global Media group will sell their stake in Lusa, information corroborated by several sources contacted by the news agency.
According to the news, the stakes of Global Media and Páginas Civilizadas represent 45.7% of Lusa’s capital and “are no longer considered strategic” and are therefore up for sale.
Lusa contacted Marco Galinha, but has so far been unable to obtain a comment. Other sources contacted by Lusa confirm the intention to sell the stake that Global Media Group (GMG) and Páginas Civilizadas hold in the Portuguese news agency.
Global Media controls 23.35% of Lusa, while Páginas Civilizadas, part of the Bel group, holds 22.35%.
On 31 December 2021, Impresa completed the sale to Páginas Civilizadas of its 22.35% stake in Lusa for €1.25 million.
According to JE, Páginas Civilizadas owns 50.2% of Global Media, which means that “Marco Galinha’s group controls 45.7% of Lusa”.
The State owns 50.15% of Lusa. The remaining capital is dispersed among NP – Notícias de Portugal, which owns 2.72%, and Público, with 1.38%. RTP holds 0.03% of Lusa, while Empresa do Diário do Minho, Lda owns 0.01% of the Portuguese news agency.
Lusa contacted the Ministry of Culture, awaiting a comment on the matter.
The intention to sell the stake, recalls JE, comes at a time when Global has a new shareholder, the Swiss fund manager Union Capital Group (UCAP Group), which bought 37% of Páginas Civilizadas, with the newspaper reporting that in September “there will be changes in Global’s management”, with the entry of José Paulo Fafe and Diogo Agostinho.
The investment was made through the World Opportunity Fund Lda, which is based in the Bahamas, as reported last week by JE, which said that the fund intends to invest in the media sector in Portuguese-speaking countries and the entry into GMG is seen as a first step.
The value of the operation was not advanced.
Founded in 2011 by Laurence D. Howell, Clément Ducasse and Patrick Zbiden, Union Capital Group has around USD 30 billion in assets under management and around 120,000 investors.
