The merger of the UBF Media Group (Hilversum, Netherlands) and EuroMedia Télévision (Paris, France), which was announced in February 2007, has been completed with the creation of the new "Euro Media Group".
The shareholders of UBF Media Group (UBF) have contributed 100% of the capital of UBF into Euro Media Télévision, allowing the creation of the new "Euro Media Group (EMG)".
EMG will be one of the largest Television and Film service providers in Europe, offering Studios, Post Production and Outside Broadcast Facilities, with 1,300 employees and an estimated turnover of approximately € 300 mio. EMG will combine its strength of local brands, such as Videohouse (B), United Broadcast Facilities (NL), Cinevideogroup (NL), Nobeo (G), CTV Outside Broadcast (UK), Euro Media Télévision (F), VCF (F), Société Française de Production - SFP (F), Tatou (F) and Livetools Technology (CH) with the advantages of a groupe of European size.
Henceforth, EMG can offer to its clients 78 studios, a fleet of 45 mobile Outside Broadcast trucks of which 16 are HD, 93 postproduction units and 114 ENG Units
EMG comprises € 150 mio equity with a net financial debt of about € 55 mio and should realise an EBITDA (pro forma 2007) of approximately € 50 mio. EMG has the ambition and means to be an important player in the development and consolidation of the European facilicties market.
EMG will have its headquarters in Bry-sur-Marne (France) and will be managed by a management team, composed of Jean-Pierre Barry (Chairman of management team, CEO), Gaston Van De Poel (CFO), Barry Johnstone (COO) and Luc Geoffroy (CTO). The management teams of the subsidiaries will keep their positions and will be involved in the development of EMG.
As compensation for their contribution, the former UBF-shareholders will acquire 46% of the capital of EMG. The shareholdership is structured as follows:
Barry & Co Media 32%
Bolloré 22%
Sofinim (Ackermans & van Haaren) 22%
Allianz Capital Partners 22%
Others 2%
The main shareholders of UBF and Euro Media Télévision have reinforced their respective participation, as a sign of their support and confidence in the future of EMG. They will each have 2 representatives in the Supervisory Board of EMG, which will consist of 8 members.
Sofinim became a 15.7% shareholder of UBF in 2001. At that time, the company realised a turnover of € 33 mio and was only active in The Netherlands. Since 2001, Sofinim has stimulated the company's managment to play an active role in the consolidation of the sector and has supported at serveral occasions the company's development. In 2006, UBF realised a net profit of € 3.6 mio on a turnover of € 143 mio.
The contribution of UBF shares into EMG result in a capital gain of about €15 mio in the consolidated accounts of Ackermans & van Haaren, which corresponds with a IRR of 25%
For further information please contact:
EMG : Jean-Pierre Barry - CEO , +33/1.49.83.38.88
Ackermans & van Haaren: Tom Bamelis - Member of the Executive Comm., +32/3.897.92.42
Bolloré : Michel Calzaroni +33/1.40.70.11.89
Allianz Capital Partners : Petra Kruell - Group Communications +49/89/38.00.26.28
Ackermans & van Haaren is a diversified group active in 4 key sectors: dredging, environmental and construction services (DEME, one of the largest dredging companies in the world - Algemene Aannemingen Van Laere, a leading contractor in Belgium), Real Estate and related services (Leasinvest Real Estate, a listed real-estate investment trust with real estate assets of approximately € 450 million - Extensa, an important land and real estate developer focused on Belgium and Luxemburg), private banking (Bank Delen, one of the largest independent private asset managers in Belgium - Bank J.Van Breda & C°, niche bank for entrepreneurs and liberal professions) and private equity (Sofinim, one of the largest private equity providers in Belgium, and GIB). The group concentrates on a limited number of strategic participations with an important potential for growth. Market capitalisation of AvH is approximately € 2.2 billion. Since March 2nd 2007, the AvH share has been included in the reference index BEL20 of Euronext Brussels.
All press releases issued by AvH and its most important group companies as well as the 'Investor Presentation' can also be consulted on the AvH website: www.avh.be.
