Orient Hontai to buy Imagina

Updated 2017-10-19 10:02:54 Global Times

Orient Hontai has agreed to buy a majority stake in Spanish sports rights group Imagina for billion, the latest deal from Chinese investors to transform the Asian country into a global soccer powerhouse.

Imagina, known as Mediapro after the name of one of its subsidiaries, has the rights to distribute the La Liga soccer championship, Europe's third-richest league.

The Chinese private equity firm reached a preliminary deal with three of Imagina's shareholders to buy a 54 percent stake, Imagina founder and chairman Jaume Roures said.

Roures said the deal still had to be authorized by the Chinese government, which has cracked down on overseas soccer investments in recent months, though he hoped the operation could be closed in early 2018.

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