Cofina, SGPS, S.A. (ENXTLS:CFN) made a takeover offer to acquire 5.31% stake in Grupo Media Capital, SGPS, S.A. (ENXTLS:MCP) for €10.5 million on September 21, 2019. Cofina, SGPS, S.A. will acquire the shares at a price of €2.33 per share. In addition to this purchase price, Cofina will assume the debt of Grupo Media Capital, which represents the total value of the business of the group. In a related transaction, Cofina, SGPS, S.A. agreed to acquire 94.69% stake in Grupo Media Capital, SGPS, S.A. from Vertix SGPS, S.A. for approximately €170 million on September 21, 2019. A capital increase of €85 million is realized to finance the operation. The conclusion of the acquisition process of Vertix – and, indirectly, of 94.69% of the share capital and voting rights of Média Capital – is subjected to the verification of a set of suspensive conditions, namely the non-opposition of Portuguese Competition Authority. In this scope, it was given, on October 31, 2019 a favourable opinion from Portuguese Regulatory Authority for the Media (ERC - Entidade Reguladora para a Comunicação Social) and from Autoridade Nacional de Comunicações (ANACOM) for the acquisition of Média Capital by Cofina. Banco Santander Totta, S.A. acted as financial advisor for Grupo Media Capital, SGPS, S.A.

Cofina, SGPS, S.A. (ENXTLS:CFN) cancelled the acquisition of 5.31% stake in Grupo Media Capital, SGPS, S.A. (ENXTLS:MCP) on September 21, 2020.