Six banks finance PRISA’s Sogecable takeover

On February 29, a syndicated loan agreement was signed to fund PRISA's 100% takeover bid for Sogecable, launched on December 20, 2007. The bridging finance was initially provided by HSBC. The syndicated loan is backed by HSBC, and financial entities La Caixa, CajaMadrid, Banesto, BNP and Natixis, all of whom have worked closely with PRISA in the past.

Spain's market regulator CNMV  authorized the takeover at 28 euros-per-share on January 14, 2008. PRISA  currently holds a 50.07% share in Sogecable after acquiring Eventos S.A.'s stake.

As soon as result of the takeover bid is known the Group will embark on a financial restructuring.