Last December, Alpac signed a pledge to buy an 88 percent stake in the company, owned by Egyptian businessman Naguib Sawiris, through his holding company MGN, while the completion of the deal is pending. approval from the French economy ministry.
A Euronews spokesman told AFP that the deal was approved by the French ministry on May 20, 2022.
Pedro Vargas David, CEO of Alpac Capital, said in a statement that “Over the past decade, Europe has witnessed a period of instability from financial crises to the health crisis and is now military (…) for to better and higher performance ”. The European Union must be “more democratic and responsible: none of this can be achieved without a strong and free press”.
The channel, which currently broadcasts in 160 countries, did not specify the amount of the deal or the investment paid for the acquisition of capital. A spokesman for the channel said Alpac manages nearly 500 million euros from its headquarters in Portugal. He is active in the energy, finance and industry sectors.
The source said the acquisition of Euronews shares was “the beginning of an investment in the media sector”, noting that the investment fund teams are located in Lisbon, Budapest and Dubai.
The new owner of the Lyon-based channel, founded in 1993 by approximately twenty European TV channels, intends to assert its “unique European identity” by strengthening dialogue with European Members of Parliament and European Commission and continuation of the dynamism of digitization ”. and diversification processes.
A source familiar with the file said that Russian channel RTR, which owns a minority stake in Euronews, will appear in the channel capital with the arrival of Alpac.
Source: Al-Akhbar
