IFIL SpA said it is investing 42.5 million euros in Paris-based Mangas Capital Entertainment with the aim to launch MCE as a new player in the European television production sector.

MCE was founded by businessman Stephane Courbit, who has solid experience in developing TV programme formats and producing content, IFIL said.

The investment is in the framework of a capital increase aimed at providing MCE resources for a total amount of 250 million euros,’ it said.

IFIL intends to inject an initial 21.25 mln euros at the closing of the deal, which is scheduled by the end of June, it said.

IFIL will have a 17 percent stake in MCE, it said.

Courbit is the former CEO of Endemol France and launched Endemol’s Big Brother TV programme format in the French market, IFIL officials said.

Courbit will hold a 48 percent stake in MCE and with allies hold the majority in the company, which intends to invest in other producers and groups of creative programme makers, the officials said.

The other half of the funds will be subscribed when MCE finds interesting investments to make, they said.

Courbit will be CEO of MCE, IFIL said.

In further details, IFIL officials said other investors in MCE are Italy’s De Agostini group, which owns Lottomatica SpA and has media interests, and France’s Bernard Arnault, who owns LVMH.

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