The online integrated media group, Hi-Media (Code ISIN FR0000075988 - HIM, HIM.PA) announced today that its Board of Directors has appointed IDI, an investment fund which holds 7.5% of its share capital, as a new board member.
After having passed the 5% shareholding mark a month ago, IDI announces that it has recently further consolidated its stake and currently owns 7.5% of the share capital. Although it focuses mostly on non-listed companies, the IDI group has over the last few months been investing in Hi-Media since the integrated Internet media group corresponds to its investment model which is based on a leadership position in high growth potential markets. In this context, Hi-Media’s Board of Directors has decided to appoint a board seat to IDI in replacement of Mr. Erik Marie Bion that desires to be fully dedicated to its new activity.
Thierry Gisserot, IDI Investment General Manager declared: “Besides its capacity to systematically outperform its market over the last years, Hi-Media enjoys highly diversified revenue sources and a proven profitability. Moreover, as board member, we are very pleased to provide our support to the management which has shown its utmost dedication to the company's success and its disposition to an open dialogue with shareholders.” Marco de Alfaro, IDI Investment Director, added: “I know the Hi-Media team very well as I previously invested in the company back in 2002 with another investment vehicle. The management visionary and rigorous qualities enabled them at that time to overcome the crisis and to become a leading and profitable player. Those qualities were key to us again with respect to IDI’s current investment in the company”.
Cyril Zimmermann, CEO of Hi-Media declared: “We are pleased to welcome within the Board of Directors a new member who shares our long term vision of the market developments and of the Internet industry. IDI has been following Hi-Media for several years now and fully support our strategy of creating an integrated online media services group. Following BV Capital’s appointment as board member at the end of last year, the group’s decision-making and governance structures are now further consolidated with the addition of IDI, and are becoming more representative of the share capital composition, which is very positive for the company.”
About IDI:
IDI is an investment company listed on Euronext (Eurolist B). IDI, which was incorporated in 1970, is an investment company specialised in equity investment in medium-sized non-listed companies. More than 66% of the group’s share capital is owned by its directors, and the group as currently around €500 million under management, distributed over four main segments: investment capital in France (LBO, development capital, Pipe, etc.) and abroad (private equity fund in emerging countries, mezzanine financing (FCPR IDI Mezzanine) and investments in hedge funds. The IDI group has carried out nine capital or mezzanine transactions over the last twenty-four months.
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