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News24 | 20 months later, Canal+ finally takes control of MultiChoice
Canal+ acquired 94.4% of MultiChoice shares in a R30 billion deal, ending MultiChoice’s JSE listing while planning a secondary inward listing to maintain local investor access.
- On Friday , Groupe Canal+ completed its takeover of MultiChoice and said it will pursue a secondary inward listing on the Johannesburg Stock Exchange following the $3 billion deal.
- Crossing the 35% threshold earlier this year, Canal+ triggered a mandatory offer after disclosing its stake in MultiChoice in 2020, while South Africa's Competition Commission and Competition Tribunal reviewed the deal.
- Shareholders accepted the bid, with holders of more than 217.6 million shares representing about 92.5%, lifting Canal+'s stake to just under 95%, triggering squeeze-out under South African law.
- Canal+ will apply to terminate MultiChoice's JSE listing, with a suspension notice expected shortly pending South African Reserve Bank approval, and integration has already begun.
- Described by management as the group's biggest deal, the combined group will serve over 40 million subscribers in nearly 70 countries, with about 17 000 employees, while keeping its primary London listing.
16 Articles
16 Articles
Canal+ acquires remaining MultiChoice shares – The Mail & Guardian
French media company Canal+ has acquired the remaining shares of MultiChoice in a groundbreaking deal which will broaden local entertainment to international audiences. The takeover deal, which started in early 2024, saw Canal+ initially acquiring each share for R105 and later for R125. The deal became unconditional in September this year — meaning all the required conditions for the transaction to go ahead had been met. “The acquisition of MC…
MultiChoice waves goodbye to the JSE
French media giant Canal+ has officially acquired 94.4% of MultiChoice Group (MCG) shares following the closure of its offer on Friday, 10 October, paving the way for the delisting of the South African broadcaster from the Johannesburg Stock Exchange (JSE). The transaction, now in line with the agreement accepted by shareholders holding over 90% of the offer shares, means MultiChoice becomes a wholly-owned subsidiary of Canal+. Next steps The gr…
Canal+ to list in SA in R54.92bn deal plan
Canal+ is moving ahead with its plans for a secondary inward listing on South Africa’s main bourse as the French entertainment firm takes control of MultiChoice Group. As part of the process, Canal+ will first delist MultiChoice from the Johannesburg Stock Exchange, the company said in a statement on Monday. It will then start a secondary inward listing by introduction, giving South African investors access to the larger pay-TV and streaming bus…
Major milestones of Canal+'s $3.17bn Multichoice acquisition deal
Canal+ has finalised its $3.17 billion acquisition of MultiChoice after two years of negotiations, marking the first time the African media giant has come under foreign ownership. The deal delists MultiChoice from the Johannesburg Stock Exchange (JSE) after 29 years and signals a significant shift in Africa’s pay-TV and streaming landscape. With the acquisition, Canal+ now controls over 94% of MultiChoice shares, giving it full authority to deli…
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