French media group Canal+ announced today that it has acquired more shares in MultiChoice, the operator of Africa’s biggest pay-TV operator DStv.
Canal+ has acquired in on/off market transactions, a further 3,868,391 MultiChoice shares, as follows:
On Thursday, 25 April 2024, Canal+ acquired 1,001,970 MultiChoice Shares in on/off market transactions for an average consideration of ZAR 118.05 per MultiChoice Share
On Friday, 26 April 2024, Canal+ acquired 630,132 MultiChoice Shares in on/off market transactions for an average consideration of ZAR 119.11 per MultiChoice Share
On Monday, 29 April 2024, Canal+ acquired 1,287,091 MultiChoice Shares in on/off market transactions for an average consideration of ZAR 119.47 per MultiChoice Share
On Tuesday, 30 April 2024, Canal+ acquired 949,198 MultiChoice Shares in on/off market transactions for an average consideration of ZAR 120.00 per MultiChoice Share
After the trades are implemented, Canal+ will hold an aggregate of about 42.47% of the MultiChoice shares in issue.
“Canal+ confirms that these acquisitions have already been disclosed to the Takeover Regulation Panel (TRP) as required under the Companies Act No. 71 of 2008 (Companies Act) and Chapter 5 of the Companies Regulations, 2011 (Takeover Regulations),” said the company.
“Save as may be prohibited under the Companies Act and the Takeover Regulations, Canal+ may acquire further MultiChoice Shares after the date of this announcement whilst the Offer remains open and, if required under the Companies Act or the Takeover Regulations, will make further disclosures and announcements in that regard.
Also read: GUGU LOURIE: Canal+ plays strong-arm game with MultiChoice
French media group appears determined to acquire DStv owner by buying more shares on open market
