MFE-MediaForEurope, the largest shareholder in German media group ProSiebenSat.1, is seeking a €3.4 billion loan from a syndicate of banks. This move is intended to provide financing for a possible takeover bid. The information comes from a source familiar with the matter, speaking to Reuters on condition of anonymity because the talks are private, corroborating a report in Il Messaggero.
The source revealed that MFE aims to secure a five-year loan commitment by December 5, 2024. The funding is intended to be in place to address any potential needs related to ProSiebenSat.1 in 2025, including a potential buyout offer. While MFE is preparing for such a move, the source emphasized that any decision is not immediate.
Both MFE and ProSiebenSat.1 declined to comment on the matter. The banks involved in arranging the loan are Banco BPM, BNP Paribas, BPER Banca, Deutsche Bank, Intesa Sanpaolo, Mediobanca, and UniCredit. It's worth noting that MFE previously approached banks in April 2024 to secure funding for a potential ProSiebenSat.1 acquisition, obtaining €4 billion at that time.