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Official: Cristiano Ronaldo merges Cofina – Fora de Campo buyout offer

Official: Cristiano Ronaldo merges Cofina – Fora de Campo buyout offer

Notice to CMVM

• Photo: Riccardo Nascimento

Covina, owner registerAnd Correio da Manhã and CMTV, among other addresses, in a statement to the regulator of the markets, confirmed that Cristiano Ronaldo is part of the proposal to buy the media company, through a car company with other investors called Expressão Livre.

Cofina – SGPS announced, through a correspondence to the Securities Market Authority (CMVM), that it has received clarifications regarding the binding offer to acquire all the shares representing the capital of Cofina Media.

“The potential buyer, according to the explanations made on July 3, 2023, is a car company called Expressão Livre, SGPS, SA,” he told, specifying in alphabetical order the names of the investors who are part of it.

The company will be owned, directly or indirectly, by Luis Santana, Ana Dias, Octavio Ribeiro, Isabel Rodriguez, Carlos Rodriguez, Luis Ferreira, Carlos Cruz, Cristiano Ronaldo, Domingos Vieira de Matos, Paolo Fernandez and Joao Borges de Oliveira.

“Given that some of the investors are simultaneously members of the Cofina Board of Directors, Cofina will ensure strict monitoring of all legal provisions applicable to transactions with related parties,” he highlights.

On June 30, Cofina SGPS received a binding offer to purchase the entire share capital of Cofina Media, which valued the company (the “Company Value”) at €75 million.

In a statement that day to the regulator, he explained that he had received a binding offer and a revised binding offer, respectively, to acquire all shares representing the share capital of Cofina Media, at a price calculated taking into account the ‘enterprise value of €75 million, subject to terms and modifications.

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The bid was signed up by Cofina Media directors Ana Dias and Luís Santana, former director of Correio da Manhã Octávio Ribeiro and other investors at the time yet to be identified.

This announcement came after news that Cristiano Ronaldo would be an investor in Cofina Media, prompting the regulator, that day, to suspend the shares from the stock exchange.

by Lusa


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