Juroszek family raises Gentoo Media stake to 59.3% in €100m refinancing
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The Juroszek family has increased its stake in Gentoo Media from 26.8% to 59.3% through a €100m refinancing package. Two family-owned entities bought €50m of equity through a share issue, with a further €50m provided as a loan; Gentoo Media chief executive Jonas Warrer said the completed refinancing would enable full repayment of bonds due in December.
The Juroszek family has gained majority control of Gentoo Media following a €100m debt refinancing, according to the source. The family's holding rose from 26.8% to 59.3%.
Family-owned entities purchased €50m of equity through an issue of 91,928,663 shares, while the family provided a further €50m loan. The issue diluted other shareholders’ stakes by 40.6%.
The share issue and refinancing are complete, CEO Jonas Warrer said. The issue, offered to eligible shareholders, was fully subscribed by the largest shareholders at a premium to the current share price. Alongside the loan, it ensures bonds will be repaid in full in December and lowers group debt. A €91.5m bond due in December 2026 is the most significant debt pressure facing the business.