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Sony to buy EMI Music Publishing stake; Orient Hontai completes Imagina deal

S&P Global Market Intelligence provides a wrap-up of European media and communications deal announcements, completions and updates from June 22 to June 29.

TOP NEWS

* Sony Corp. said June 29 that its U.S. subsidiary Sony Corp. of America has signed a definitive agreement to acquire a 60% stake in DH Publishing LP, which owns and manages U.K.-based EMI Music Publishing. The Japanese electronics and media company is buying the stake from an investor consortium led by Mubadala Investment Co. Sony said May 22 that it was planning to buy the stake for $1.9 billion. The transaction is still subject to closing conditions, which include regulatory approvals.

* Chinese private equity firm Orient Hontai Capital completed the acquisition of a 53.5% majority stake in Spanish media company Imagina Media Audiovisual SL, according to a June 26 news release. The deal was closed after Orient Hontai secured the necessary regulatory and administrative approvals. Imagina shareholders struck a deal in October 2017 with Orient Hontai Capital to sell a 53.5% majority stake in the company for $1 billion.

Meanwhile, Grupo Televisa SAB, another of Imagina's shareholders, also said June 26 that it closed the sale of its 19% stake in Imagina, receiving about $341 million. Of the total, 11% was retained in escrow and will be paid over time, subject to customary terms and conditions.

M&A media

* Alibaba Group Holding Ltd. will invest in Turkish e-commerce platform Trendyol as part of its international expansion strategy. The Chinese e-commerce giant will invest in Trendyol and buy shares from existing investors, the Istanbul company said June 28.

* Media company Sanoma Corp. said June 27 that it will increase its ownership in Finnish news agency STT to 75.4%. Additional shares are being acquired from Finnish-owned newspaper publishing companies Alma Media Oyj and Turun Sanomat Oy.

* Catena Media PLC has agreed to purchase sports news and lead generator ASAP ITALIA, which has monthly revenues of €300,000, according to a June 27 statement. The acquisition will strengthen Catena's foothold in the sector in Italy.

M&A communications

* Wipro Ltd. completed the $399 million sale of its hosted data center services business in Germany and the U.K. to Illinois-based IT services provider Ensono LP. Employees in India that provide support to the German and U.K. operations are included in the deal.

* Freenet AG said June 29 that it has reached an agreement to acquire 32.6 million shares in Ceconomy AG for about €277 million or €8.50 per no-par-value share. Freenet will hold about 9.1% of the ordinary shares of Ceconomy, which operates German electronics chain MediaMarktSaturn.

* Addtech AB will acquire outstanding shares in Fibersystem AB under a new agreement, according to a June 29 news release. Sweden-based Fibersystem delivers advanced digital-based cybersecurity and fiber-optic transmission solutions.

* Norwegian broadcaster TV 2 AS, via its subsidiary TV 2 Invest, has acquired a 15% shareholding in Oslo-based mobile company Chili Mobil AS, e24.no reported June 27.

* Connect Infrastructure Bidco Ltd., a consortium formed by Antin Infrastructure Partners and Goldman Sachs Group Inc.'s West Street Infrastructure Partners, has completed the acquisition of CityFibre Infrastructure Holdings PLC, the latter said June 22. As a result, the London Stock Exchange has cancelled the trading of CityFibre Shares on the AIM submarket, according to a separate stock exchange release that same day.

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