Ben Ammar eyes bigger Lux Vide stake
EmptyROME -- Tarak Ben Ammar is on the verge of increasing his stake in Lux Vide, an Italian TV producer, in a move that would be the latest in a series of Italy-based moves for the Franco-Tunisian producer.
The move was reported in the Italian press Tuesday and confirmed by a source close to the deal, who said the talks were "advanced" and could close as soon as this week.
Ben Ammar already owns a 24% stake on Lux Vide and the reports indicate that Ben Ammar's stake could come from a 35% share in the company owned by Video Delta, the company's second leading shareholder after a deal between Video Delta and investment firm State Street Global.
Lux Vide's largest shareholder is still the Bernabei family, which controls 44% of the company.
The source would not say how much of Video Delta's stake Ben Ammar would look to acquire, but if he bought all of it, the transaction would make him Lux Vide's majority shareholder.
If the deal is closed, as expected, it will be the latest in a series of Italian acquisitions for Ben Ammar, the president of Paris-based Quinta Communications.
In the second half of last year, Ben Ammar took control of Italian distributor Eagle Pictures and bought a 10% stake in animated content producer Rainbow, the company behind the successful "Winx Club" franchise.