The MP & Silva agency is on the look-out for new investment after revealing details of a group restructuring earlier this month, according to a report by the Thomson Financial newswire.
The report said that the agency would open a formal procedure in September to identify a “new financial partner,” with investment banking services company UBS advising the agency during the process.
Some private equity funds have approached the group in recent months, the report added.
At the start of August, MP & Silva said that Andrea Radrizzani (left of picture) had sold a portion of his shareholding to fellow co-founder Riccardo Silva (right of picture) and stepped back from the management and operations of the agency.
Silva is now president of MP & Silva, with Radrizzani “focusing his activity and resources” on new international pay-television operator Eleven Sports Network, the agency said.