Home Entertainment Canal+ Bid for DStv Deemed ‘Fair and Reasonable’ by Independent Board

Canal+ Bid for DStv Deemed ‘Fair and Reasonable’ by Independent Board

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DStv
DStv

An independent board formed by MultiChoice has recommended an all-cash mandatory offer from French media group Canal+ for the shares it does not already own in the South African broadcaster.

The companies announced on Tuesday that the board concluded the offer’s terms and conditions are “fair and reasonable” for MultiChoice shareholders.

In April, Canal+ made a firm offer of $6.7 in cash per MultiChoice share, amounting to approximately $1.8 billion for the shares it does not own, valuing the entire company at about $2.9 billion.

Both parties are working to assess and finalize a suitable structure for the licensed activities of MultiChoice Group to ensure compliance with applicable limitations on foreign control during the implementation of the mandatory offer.

The deal aims to create a pan-African broadcasting powerhouse with around 31.5 million subscribers across more than 50 countries. This merger would enable the combined entity to bring African content to global audiences and compete on an international scale.

Canal+ has a strong presence in French-speaking African nations, while MultiChoice dominates in English-speaking countries, including South Africa, Nigeria, and Kenya.

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