(CercleFinance.com) – Vivendi announced Monday that its subsidiary Canal+ had submitted a draft mandatory offer for the shares of South African MultiChoice that it does not yet own, at a purchase price of 125 rand per share, payable in cash.
In a statement, the media and entertainment group said it was confident about the success of the offer, the price of which well exceeds the minimum required by regulation, which is approximately R105.
Canal+ underlines that MultiChoice shareholders will thus be able to benefit from a premium of 66.66% compared to the closing price of 75 rands on February 1, that is to say before the announcement of its non-indicative offer. -binding.
The French group then expressed its intention to make an offer for a price of 105 rand for each ordinary share of MultiChoice.
Canal+ explains that it has the ambition to build a world leader in entertainment that will have Africa at the heart of its priorities.
The company, which has 8.1 million subscribers in Africa, was already the largest shareholder of MultiChoice, a pay television group with a strong presence in English- and Portuguese-speaking Africa.
Its offer must be entirely financed by its available funds.
Canal+ has also committed to ensuring that South African investors can benefit from the future growth of the combined company through a listing on the Johannesburg Stock Exchange.
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