MultiChoice: a mandatory offer submitted by the Canal+ group to acquire the South African group

The Canal+ group has made "a mandatory offer to acquire all the issued shares of MultiChoice not already owned by the group at a purchase price of R125 per share (€6.18 as at 09/04/2024), payable in cash," announced the pay and free-TV group on 08/04/2024.

MultiChoice, South Africa's leading pay-TV operator and owner of sports pay-TV group Supersport International, had announced that it was entering into "exclusive" discussions with Canal+ after the latter increased its offer to acquire the group on 05/03/2024. The French group had submitted an initial takeover offer of ZAR105 (€5.2) per share on 01/02/2024, which was rejected by Multichoice on 05/02/2024.

"MultiChoice and Canal+ have entered into a cooperation agreement regarding the offer. The offer will be fully funded by funds available to Canal+. The TRP (Takeover Regulation Panel) has been furnished with an irrevocable unconditional bank guarantee," explained Canal+.

MultiChoice has more than 20 million subscribers in seven sub-Saharan African countries (English- and Portuguese-speaking). Canal+ is already the leading…