FC Barcelona Set To List Merged Media Arm On Nasdaq Via SPAC Deal
(RTTNews) - Spanish soccer club FC Barcelona is set to merge its digital Barça Vision and audiovisual content units under the brand "Barca Media" and list this media arm as a publicly listed company on the Nasdaq through a business combination deal with Mountain & Co. I Acquisition Corp (MCAA), a publicly traded special purpose acquisition company or SPAC.
Mountain & Co. is focused on the sector of European digital media and technology. FC Barcelona expects Barça Media to become a significant source of income for the Club with a pro-forma enterprise value of approximately $1 billion or about 910 million euros.
The agreement will allow Barca Media to access additional financing through the US capital markets and will accelerate the Club's initiatives across digital and audiovisual sectors.
It will also strengthen Barca Media's its ability to distribute its content to new audiences in strategic markets around the globe.
This transaction will require the approval of the shareholders of Mountain & Co., the approval of the General Assembly of the members of FC Barcelona and is subject to other customary closing conditions. The closing is expected to take place in the last quarter of 2023.
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