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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE 3i to invest €225m in Hispanic radio operator Unión Radio22/04/2008. Source: AltAssets. 
3i has agreed to take a minority stake in Unión Radio. The firm has made an initial investment of €125m in the Hispanic radio operator, out of a total commitment of €225m, via a private placement and capital increase. Unión Radio, which owns Cadena Ser and Grupo Latino de Radio, is valued at €1.3bn.
As part of the deal, 3i partner Maite Ballester and director Javier Alonso will join Unión Radio's board of directors.
Ballester said, 'This agreement unites the strengths of both companies: 3i's own experience and contacts in the global media sector and Unión Radio's outstanding leadership, successful model and strong ambition. As an active minority partner, we look forward to helping drive forward the firm's growth plans, especially in the US market. We believe, through this partnership, Unión Radio could become the undisputed leader in Hispanic radio worldwide.'
3i's recent investments in the media sector have included Swedish digital TV broadcaster Boxer, Indian rights management company Nimbus Communications, US media company Demand Media and UK film studio Pinewood Studios.
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