Milan, 26 July 2007 – RCS MediaGroup announces performance of the agreement signed on 27 April last between itself and the shareholders of the Gruppo Finelco S.p.A. today, having obtained approval by the competent Authorities.
In execution of the previously announced agreements, RCS MediaGroup has therefore granted the shareholding held in RCS Broadcast (98.99% of the capital) to Gruppo Finelco S.p.A.. RCS Broadcast – from whom the activities of AGR and CNR had previously been spun off – holds the national radio license rights of the broadcaster Play Radio (now Virgin Radio). RCS MediaGroup will receive a 25% shareholding in Gruppo Finelco S.p.A. against this grant and the relative reserved capital increase which will take effect in accordance with the law. At the same time RCS acquired the quota of Gruppo Finelco S.p.A. held by MPS Venture SGR S.p.A. – in the name of and on behalf of the closed investment funds MPS Venture 1 (8.57%) and Ducato Venture (4.29%) – equal to 12.86% (before the above mentioned capital increase) for a payment of 20.75 million euros.
The total shareholding of RCS MediaGroup in Finelco will therefore be 34.6%.