Mário Ferreira, the head of Douro Azul, will become the second largest shareholder of Cofina, investing up to 20 million euros to keep 15% of the media group. At the helm of him, will only be Paulo Fernandes, the current executive president, who is also expected to invest 20 million euros to move from the current 13.88% to more than 20% of the operation. Abanca is also expected to be 7.6%, with 10 million euros expected to be disbursed. The new shareholders (and the strengthening of the current ones) arrive through a round of capital increase that Cofina aspires to do over the next March. All in all, the group expects to raise 85 million euros, which are needed to complete the purchase of Media Capital. All these changes will only come to fruition if the capital increase is fully subscribed to 85 million EUR, that is, if all investors accomplish what they have announced.
