Egyptian magnate Nauguib Sawiris and French-Tunisian financier Tarak Ben Ammar have agreed a strategic partnership to finance, produce and distribute movies, premium TV and multimedia content on the international and Arab markets. The operation was announced at the Cannes Film Festival and foresees the acquisition of 30% of Ben Ammar’s Quinta Communications Italia by Sawiris. […]
Egyptian magnate Nauguib Sawiris and French-Tunisian financier Tarak Ben Ammar have agreed a strategic partnership to finance, produce and distribute movies, premium TV and multimedia content on the international and Arab markets. The operation was announced at the Cannes Film Festival and foresees the acquisition of 30% of Ben Ammar’s Quinta Communications Italia by Sawiris. The two partners plan to expand the group by acquiring, both in Italy and globally, the control of media-related companies. The new alliance will have available EUR 100 million for investments.
The move follows the acquisition in December 2012 by Ben Ammar of Egypt’s ONTV, owned by Sawiris. Ben Ammar already controls, together with the Karoui brothers and Mediaset, North African TV network Nessma TV. For its part, Quinta Communications Italia controls Prima TV, the company that groups all media assets of Ben Ammar. Prima also owns the Sportitalia TV channels and DTT multiplex operator Dfree in Italy.
