Globo Comunicação e Participações SA acquired control of Eletromidia, a company specialized in out-of-home (OOH) advertising, reinforcing its presence in the outdoor media sector.
The transaction involves the purchase of 47.09% of Eletromidia’s shares, previously held by the investment fund Vesuvius LBO, from HIG Capital, and totals around R$1.7 billion. With this, Globo will increase its share, which was already 27%, consolidating its business diversification strategy. The information is from Economic Value.
The acquisition includes the purchase of 65,923,980 shares at a value of R$27 each, in addition to an additional premium of R$131.8 million (R$2 per share), subject to Cade’s approval. Eletromidia’s minority shareholders will be able to join the operation through a Public Acquisition Offer (OPA) at B3, as provided for in the contract, which may also cancel Eletromidia’s registration as a publicly-held company.
