Gimv strengthens Alfacam’s capital position and significantly raises its stake in the group - Alfacam maintains a substantial minority interest in separated company EXQI

18/09/2009 - 07:30 | Portfolio

Gimv invests EUR 5.0 million in Alfacam Group; in this way strengthening the capital position of this major supplier of TV services to TV stations and production companies. The investment is made through a subordinated loan. As part of this transaction Gimv will also acquire warrants.

Gimv also bought additional Alfacam shares of Mr and Mrs Fehervari-Stoop, as a consequence of which Gimv’s stake in Alfacam rises to 4.9% of the total amount of outstanding shares. Mr and Mrs Fehervari-Stoop will re-invest the proceeds of the sale in EXQI.

Since Alfacam wants to focus on its core activities – providing services to broadcasters and productions houses – it has been decided some weeks ago to separate the EXQI project from the rest of the company for strategic reasons. Alfacam will retain a minority stake in EXQI.

Koen De Jonckheere, CEO Gimv, comments on Gimv’s investment: “The new investment shows that companies in different stages of their growth can count on Gimv’s means and knowhow. The relationship between Gimv and Alfacam goes back to 1998 and will continue with this investment. This transaction will not only strengthen Alfacam’s equity but will also allow the group to finance its future growth.”

Gabriel Fehervari, CEO of Alfacam Group, adds: “Because of the additional investment of Gimv in Alfacam Group the excellent relationship that exists between both companies since over 10 years becomes even closer. Since the operation is twofold, we are not only able to separate the EXQI project from the Alfacam Group, but also to give it a life of its own and to attract new external capital, apart from the EUR 4.5 million that my spouse Karin Stoops and I have invested personally in EXQI. Alfacam Group keeps, however, a substantial minority interest in EXQI sa.”

The listed Alfacam Group (www.alfacamgroup.com) covers the activities of Alfacam, EuroLinX, Euro1080 and the Eurocam Media Center. Alfacam (www.alfacam.com) mainly services broadcasters and production houses and has a fleet of 26 television trucks. Half of its 2,500 annual assignments are executed in HDTV. EuroLinX (www.euro-linx.com) is a pioneer in HDTV satellite services and wireless transmissions. Euro1080 (www.euro1080.tv) is the first High Definition Television company in Europe and broadcasts, among others, EXQI. Eurocam Media Center (www.eurocammediacenter.be) is a modern and multifunctional block of buildings including 15 studios that are extremely well-suited for television productions and business events. Last financial year Alfacam Group realised a turnover totalling EUR 39.5 million.

No further financial details on this transaction will be disclosed.

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