Sky Deutschland: BSkyB buys 57.4% stake from 21^st Century Fox and 11.4% from other shareholders

The British pay-TV group BSkyB is about to acquire 68.8% of the capital and voting rights of its German counterpart Sky Deutschland, the two companies announced on 20/10/2014. BSkyB bought the 57.4% stake in Sky Deutschland owned by the American group 21^st Century Fox, and approximately 11.4% held by minority shareholders of the German group. The total cost of the transaction amounts to more than €4.3bn for BSkyB.

BSkyB has reached an agreement, on 25/07/2014, with 21^st Century Fox to buy the shares the latter holds in the capital of the Italian pay-TV group Sky Italia (100% at €3.1bn) and in Sky Deutschland (57.4%). BSkyB is also partially owned by 21^st Century Fox, at a stake of 39.14%. With the acquisition of Sky Italia and Sky Deutschland, BSkyB is now valued at €7.4bn.

26.7% of the minority shareholders of Sky Deutschland accepted the bid from BSkyB

• The acquisition of the 57.4% of Sky Deutschland has occurred in the form of a takeover bid (Voluntary Takeover Offer) set at €6.75 per share, which valued the transaction at around €3.7bn.
• Under German law on limited companies…