Diego Mejía invests 15 million in the company that will buy CB Estudiantes

Businessman Diego Mejía has invested 15 million euros in the company Sexto Hombre, the vehicle with which he will buy CB Movistar Estudiantes. The total operation amounts to 21.6 million.

Diego Mejía, founder of Taula Capital Management, has formalised his entry into Sexto Hombre, the instrumental company with which he will acquire CB Movistar Estudiantes. The initial outlay is 15 million euros, according to the club's announcement.

A 21.6 million offer for the collegiate club

The overall operation amounts to 21.6 million euros: 6.6 million for the purchase of the reference shares and 15 million for a capital increase. Mejía will acquire the shareholding package of president Ignacio Triana (23.6%) and Vicente Olivenza (24.3%), who have already accepted the offer.

The businessman will issue a public takeover bid (OPA) to the remaining shareholders under the same conditions, once he receives authorisation from the Higher Sports Council (CSD).

“The entry of Sexto Hombre into the club represents a firm and decisive commitment to the viability and growth of Movistar Estudiantes, backed by an investment of up to 15 million euros entirely dedicated to the development and strengthening of the entity,” the official statement notes.

Mejía's offer prevails over Siles and De Andrés

Mejía's proposal has surpassed that of Jaime Siles and Dimas de Andrés, who offered 34.8 million euros, but with a different financing scheme: 6.6 million for the purchase and 26 million in sponsorships over three years. The reference shareholders opted for the capital increase route.

For fans and small shareholders, the operation represents an injection of liquidity and the possibility of exiting the shareholding at the same price as the major holders. The club seeks to regain economic stability and become competitive in Spanish basketball again.

The completion of the purchase is subject to the approval of the CSD, which is expected to make a decision in the coming weeks. In the meantime, Mejía has already begun working on the club's viability plan.