Print Published 2nd Jan 2018, 15:43

Porta shareholder SEC pays estimated initial €0.7m for Colombian PR business

SEC, the Italian public relations group whose shares are listed on the London stock exchange, has acquired a 51% majority stake in the Colombian communications agency Newlink Comunicationes Estrategicas on terms that seem likely to have involved initial payments totalling a little under €0.7 million (£0.6 million).

Newlink is based in Bogotà and had turnover of almost €2.9 million (£2.5 million) in 2016.  It made a pre-tax profit of €225,056 (£0.2 million) in that year, but no information has been provided about the company’s performance in 2017.

Last August SEC invested £3 million in AIM listed UK group Porta Communications (see Italian PR group injects £3m into Porta: Morton loans restructured and SEC – just one helpful Italian investor?).