The investment fund Orient Hontai Capital (OHC), the first private equity group in China, has injected 620 million euros into Mediapro, so that it will hold approximately 80% of the capital.

In a statement, Mediapro has reported that, of these 620 million euros, 150 million will be used to "cover the needs of the company" and another 470 million will be used for "an additional capital increase."

The group will thus be able to reduce its indebtedness to below three times its EBITDA - gross operating income.

The capitalization agreement, which has yet to be ratified in the coming days,

contemplates that the founders of the company Tatxo Benet and Jaume Roures continue to lead it

.

Although the agreement is still "in the documentation phase", Mediapro reports that, given this operation, "it has been negotiating for months with its debt holders an agreement that reflects in its conditions the new financial situation" of the group.

According to the company, the injection of capital will allow the group "to operate in the market with the same ambition with which it has done so in its more than 25-year history."

Mediapro plans to invoice more than 1,200 million euros in 2021 and close the year with an ebitda of 160 million euros, above the 124 million of the budget.

With activity on four continents in the areas of content production, provision of audiovisual services, management of audiovisual rights and development of digital and innovation projects, Mediapro acknowledges in its statement that it

has suffered "a strong impact" due to the pandemic

, since that "all its business units suffered from the stoppage of activities decreed around the world."

In February 2018, Orient Hontai

became the majority shareholder of Mediapro, with 53.5%

of the capital, by buying the shares of Torreal (22.5%), Televisa (19%) and Mediavideo (12%) for 1,016 millions.

The British firm WPP (22.5%), another of Mediapro's partners, maintained its stake in the company, as did the two founders of the group, Tatxo Benet (12%) and Jaume Roures (12%).

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