Cofina - SGPS, through a communication to the Securities Market Commission (CMVM), has announced that it has received clarifications regarding the binding offer for the acquisition of all the shares representing the share capital of Cofina Media, a group which includes the newspapers Correio da Manhã and Jornal de Negócios.

"The potential buyer, in accordance with the clarifications provided on July 3, 2023, is a vehicle company called Expressão Livre, SGPS, S.A", specifying in alphabetical order the names of the investors that are part of it.

The company will be owned, directly or indirectly, by Luis Santana, Ana Dias, Octávio Ribeiro, Isabel Rodrigues, Carlos Rodrigues, Luís Ferreira, Carlos Cruz, Cristiano Ronaldo, Domingos Vieira de Matos, Paulo Fernandes and João Borges de Oliveira.

"Considering that some of the investors are simultaneously members of Cofina's board of directors, Cofina will ensure strict observation of all legal provisions applicable to transactions with related parties".

On 30 June, Cofina SGPS received a binding offer for the purchase of the entire share capital of Cofina Media, which valued the company ('enterprise value') at €75 million.

In a statement to the regulator, they clarified that they had received a binding offer and a revised binding offer, respectively, for the acquisition of all the shares representing the share capital of Cofina Media, with a price calculated considering an 'Enterprise Value' of 75 million euros, subject to conditions and adjustments.

The offer was subscribed by the administrators of Cofina Media Ana Dias and Luís Santama, and by the former director of Correio da Manhã, Octávio Ribeiro, and other investors at the time not yet identified.

The announcement came after news that Cristiano Ronaldo was going to be an investor in Cofina Media, which led the regulator to suspend, on the day, the shares from the stock exchange.