PRISA earns 279 million euros from the sale of 25% of Santillana

PRISA has today signed the sale of 25% of Grupo Santillana de Ediciones, of which the Group owned one hundred per cent, to the private equity fund DLJ South American Partners. The operation has brought in 279 million euros in cash for PRISA, with the publishing group valued at 1.116 million. The capital gain reported by PRISA is 213 million.

The operation is part of the strategic plan announced by PRISA to seek out new strategic partners, capital, technology and markets, and provides Santillana with a new partner to develop its activities in Latin America, particularly Brazil and Mexico. Most of the incoming funds will be used to repay debts, in accordance with restructuring plans worked out with a group of banks. The agreed restructuring envisages the use of up to one hundred million euros in future investments by Santillana, especially in the Brazilian and Mexican markets. The new Board of Directors of Grupo Santillana, which is composed of eight members, has been joined by two representatives of DLJSAP.
 
DLJ South American Partners is a private equity fund that invests in companies in Latin America, with a particular focus on Brazil, Chile and Argentina. With their new stake in Santillana, they are set to expand their scope in Spain, Portugal, Mexico and the United States. They will bring to Santillana a group of professionals with in-depth knowledge and over 20 years experience of Latin American markets.

Santillana is the leading publisher of textbooks and general-interest titles in Spain and Latin America. It is also the leading publisher in the field of Spanish-language literature. With over 125 million books sold each year, Santillana has been a byword for quality, innovation and service to education professionals since it was founded in 1960.

PRISA is world's leading group in media, education and entertainment in the Spanish and Portuguese speaking markets. It operates in 22 countries, reaching over 50 million users through its global brands.