Alpac Capital

Alpac Capital is a Portuguese investment group founded in 2013 and based in Lisbon. Its founding and managing partners are Pedro Vargas David, its chief executive, and Luis Santos. It agreed to buy a controlling stake in Euronews from Naguib Sawiris in December 2021, and its media fund controls about 98% of the broadcaster.Sources:1Wikipedia: Alpac Capital, Wikipedia (source, opens in a new tab)

In April 2024 an investigation by Direkt36 with Le Monde and Expresso reported that €45 million of the money used to buy Euronews came from a Hungarian state capital fund. Alpac had told Expresso in 2021 that there was no public money in the deal.Sources:2Direkt36: Secret documents reveal that Orbán's people were behind the purchase of one of Europe's biggest TV channels, Direkt36, 11 April 2024 (source, opens in a new tab)