Juan Jose Nieto, former executive president of Admira (Telefonica Media), is understood to be in final negotiations to buy Das Werk's remaining interests in Barcelona-based En Efecto in a bid to create a new media group in Spain.
Through his own start-up holding company Palmera Capital, Nieto is negotiating the buy-out of En Efecto post-production companies Video Efecto, Audio Clip, Mad Pix Company and Lisbon-based Bikini Pos Producao de Filmes.
A deal is rumoured to be imminent and expected to be finalised before the end of the year. Nieto is also likely to buy En Efecto film and TV production and sales company 42nd Street Productions.
Nieto's reported plans to shape a new media group could see him, possibly with additional partners, vying to acquire other media companies on the block in Spain. Nieto was also formerly CEO of Antena 3 Television and president of Via Digital, and is currently president of document management and reprographics company Service Point.
"In Spain, Nieto is very much linked to the media world and his contribution would guarantee the group a significant launch," says En Efecto CEO Arturo Collado. "He is someone who, aside from being a solid investor, is also an executive and a manager who will direct the company."
42nd Street CEO Thomas Spieker had similar praise: "If the sale does happen, it can only mean good things for 42nd Street because Nieto has good contacts in the Spanish media sector that furthermore fit with our own business plan."
Last week Das Werk announced the sale of En Efecto laboratory Image Film to the newly created Image Laboratories, owned by Deluxe Media, a 100% subsidiary of the UK's Deluxe Laboratories.
Das Werk also sold En Efecto film post production house Cine Efecto and film stock and video tape supplier Film & Tape to Deluxe Laboratories' subsidiary Image Film Digital.