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Alfacam bought by France’s Euro Media Group
Belgium-based Alfacam, the troubled provider of Europe's largest fleet of outside-broadcast vans, will be bought by France's Euro Media Group, reports Reuters’ Robert-Jan Bartunek. The announcement was made this morning by the French company. Euro Media Group, which is partially owned by Belgian investment group Ackermans & van Haaren, also provides broadcast services for live events and TV studios. Euro Media said the acquisition would strengthen its European exposure while allowing it to expand its presence in emerging markets such as Brazil, which hosts the finals of the soccer World Cup next year. The group did not disclose financial details but a report in Belgian business daily De Tijd put the deal at €25m. Alfacam was granted creditor protection in October and has been seeking investors since then. It announced an agreement with Indian investment group Hinduja in December, but the deal eventually fell through.