The MBC Group from Dubai is investing 225 million euros in ANTENNA, which acquired 30% of the group’s shares through a share capital increase.
As the group informed, the funds will be allocated for the creation of state-of-the-art and innovative studios and infrastructures of international standards in Greece, in order to attract television and film producers from all over the world.
The goal is to make Greece an international hub for audiovisual production, while the funds will be available to startups digital companies, as well as digital service companies, creating hundreds of new jobs.
In particular, as stated in a relevant announcement:
“ANTENNA Group announces an agreement of high strategic importance. This is the participation of MBC Group – the largest media group in the Middle East and North Africa based in Dubai – in the activities of ANTENNA Group of Greece, through a share capital increase of € 225 million.
The share capital increase was completed and the funds were paid in full by MBC Group to support a major investment plan in Greece. The MBC Group now owns 30% of the voting shares and the ANTENNA Group retains 70% of the control of the relevant holding company.
Founded in 1991 in London, MBC Group is the largest media group in the Middle East and North Africa, with over 17 high-tech, leading channels and the largest streaming platform in the Middle East.
The funds will be allocated for the creation in Greece of state-of-the-art and innovative studios and infrastructures of international standards for the attraction of television and film producers from all over the world. The aim is to make Greece an international hub for audiovisual production, which, in parallel with the incentives established by the state, will encourage the increase of relevant investments and the inflow of foreign exchange.
Funds will also be available to startups digital companies, as well as digital service companies that will strengthen the digital ecosystem of Greece and give impetus to the growing digital economy.
The planned investments are expected to create hundreds of new jobs and utilize high-tech specialties.
“This agreement is a vote of confidence in the Greek economy and in the ANTENNA Group, and will offer significant multiplier benefits.”
Source: Capital
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