Global Capital (part of EFG Eurobank Latsis) has acquired an 11% equity stake in NetMed, a subsidiary of Nasdaq- and AEX-listed MIH Limited.
Ekdosis Tegopoulos, a media company listed on the Athens Stock Exchange, acquired approximately 5% of NetMed.
NetMed has been operating in Greece and Cyprus since the early 1990s and is serving over 375 000 pay television subscribers.
In December last year, it launched the first digital platform in Greece, which the company says has experienced excellent growth and now has over 50 000 subscribers.
The cash injection from Global and Ekdosis Tegopoulos will be invested in the ongoing development of the digital platform.
Cobus Stofberg, CEO of MIHL, says of the deal: "We welcome our new shareholders into NetMed, both of whom have excellent track records as well as a sound understanding of the Greek media market. We are glad to work closely with two companies which share our vision of digital television services in Greece.
"These strategic partnerships will be of great benefit to all concerned, especially our Greek consumers, as NetMed continues to expand and develop its services," he concludes.
MIHL is a subsidiary of JSE-listed MIHH.
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