French media company Groupe Canal+ has acquired an additional interest in Multichoice’s ordinary shares, and now holds 40,01% of the company’s total ordinary shares in issue.
As required in terms of section 122(3)(a) of the Companies Act, MultiChoice has filed the required notice with the Takeover Regulation Panel (TRP).
In addition, as required in terms of section 122(3A) of the Act, MultiChoice has filed the required notice with the Companies and Intellectual Property Commission.
Canal+ previously held just over 35% of Multichoice’s shares.
Last week the two companies reached an agreement whereby Canal+ aims to acquire the Multichoice group, offering shareholders R125.00 per share.