Canal+ has acquired a further 3 868 391 Multichoice shares, in on/off market transactions.
This brings the French media group’s shareholding in Multichoice to approximately 42,47% of the issued share.
Canal+ has disclosed the acquisitions to to the Takeover Regulation Panel (TRP) as required under the Companies Act.
The shares were acquired between 25 April and 30 April for R118.05 for 1 001 970 shares; R119.11 for 630 132 shares; R119.47 for 1 287 091 shares; and R120.00 for 949 198 share.
On 8 April, the two companies reached an agreement by which Canal+ would acquire the Multichoice group, offering shareholders R125.00 per share.
The offer constitutes a firm intention announcement by Canal+ to acquire – either itself or through a wholly owned subsidiary for which Canal+ shall be ultimately responsible – all of the issued ordinary MultiChoice shares it doesn’t already hold, and excluding Treasury shares.