In a major improvement throughout the media and leisure sector, CANAL+ has made a compulsory provide to accumulate all excellent shares of MultiChoice Group that it doesn’t already personal. The provide, priced at ZAR125.00 per share, is considerably greater than the regulatory minimal, set at roughly ZAR105.00, and represents a 66.66% premium over the closing value on 1 February 2024. This strategic transfer comes after detailed discussions between senior representatives of CANAL+ and MultiChoice and follows the timeline agreed with the Takeover Regulation Panel (TRP).

To facilitate the provide, CANAL+ and MultiChoice have entered right into a cooperation settlement, making certain the provide’s funding by way of an irrevocable unconditional financial institution assure supplied to the TRP. To assess the equity and reasonableness of the provide, MultiChoice has shaped an Independent Board and appointed Standard Bank as an impartial professional.

This acquisition guarantees important benefits for all stakeholders concerned. MultiChoice shareholders are supplied a sexy alternative to comprehend worth from their shares in money, marking a substantial premium. Furthermore, the mixing into CANAL+, a worldwide leisure chief with a robust deal with Africa, guarantees enhanced aggressive and cooperative capacities in opposition to main worldwide media conglomerates, streaming platforms, and studios.

Following constructive engagement with MultiChoice, we’re happy to have issued a joint agency intention announcement to make a proposal immediately, representing a major premium for the shareholders of MultiChoice. CANAL+ is assured in making this provide, at a degree which far exceeds the minimal required by regulation, because of the unbelievable future we consider that CANAL+ and MultiChoice can construct collectively.

Through combining our firms, we can be properly positioned to speculate much more in native productions and sports activities content material, supporting the world-leading and vibrant artistic ecosystem on the African continent and all around the world, and producing much more high-quality and compelling native tales. The complementary geographies, appreciable scale, and strengthened capabilities achieved by the mix of those two nice firms will make sure that Africa can inform her personal tales on her personal phrases each domestically and globally.

We are enthusiastic about these alternatives, which can be supported by additional funding in expertise, together with the continued providing of a number one satellite tv for pc service, and rolling out extra progressive streaming merchandise.

Maxime Saada, Chairman and CEO, CANAL+ Group