Alpha Blue Ocean Announces a New Financing Agreement With Netweek (ntw:im) for €15 Million

DUBAI, United Arab Emirates--(BUSINESS WIRE)--Alpha Blue Ocean, a family office founded by Pierre Vannineuse and a pioneer in alternative finance in Europe, is pleased to announce the execution of a €15 million financing agreement with Netweek.

The Netweek Group is the leading company in hyper-local information and aims to become the reference interlocutor of the small and micro enterprises of Northern Italy through an offer of calibrated and personalized means of communication. The Netweek Group publishes 50 local editions and 40 news sites, with over 700,000 weekly readers and 30 million page views per month.

ABO’s commitment will allow Netweek to finance its new business plan, following the completion of the reverse merger with Media Group. This commitment will be utilized at Netweek’s discretion over the next 60 months to strengthen its balance sheet and financial structure as well as supporting its digital and online expansion.

Amine Nedjai, CEO Alpha Blue Ocean:

“We are proud to support Netweek in this next chapter of its growth story. Once the merger with Media Group is completed, the new group will become a leading player in the local advertising and media business, covering 11 regions across Italy. This investment will support Netweek’s growth plan over the coming years, with ABO as its partner.”

Massimo Cristofori, CFO Netweek:

“I am particularly proud of this agreement with a partner like ABO, which once again demonstrates Netweek's ability to identify innovative capital solutions. With these incremental financial flows of capital, Netweek will be in a position to finance the Business Plan with the goal to create the leader company on local media. ”