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France's Euro Media Group to buy Belgium's Alfacam
June 18, 2013 / 7:27 AM / 4 years ago

France's Euro Media Group to buy Belgium's Alfacam

BRUSSELS, June 18 (Reuters) - Belgium-based Alfacam, the troubled provider of Europe’s largest fleet of outside-broadcast vans, will be bought by France’s Euro Media Group, the French company said on Tuesday.

Euro Media Group, which is partially owned by Belgian investment group Ackermans & van Haaren, also provides broadcast services for live events and TV studios.

Euro Media said the acquisition would strengthen its European exposure while allowing it to expand its presence in emerging markets such as Brazil, which hosts the finals of the soccer World Cup next year.

The group did not disclose financial details but a report in Belgian business daily De Tijd put the deal at 25 million euros ($33.4 million).

Alfacam was granted creditor protection in October and has been seeking investors since then. It announced an agreement with Indian investment group Hinduja in December, but the deal eventually fell through. ($1 = 0.7492 euros) (Reporting by Robert-Jan Bartunek; Editing by Charlie Dunmore and David Goodman)

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