Vivendi’s Offer to Buy MultiChoice Valued at $3 Billion Open
- Cash offer of 125 rand per share will close on April 25
- Canal+ already owns 45.2% of MultiChoice after purchases
A billboard for DStv, operated by MultiChoice, in Randburg, South Africa.
Photographer: Mzingenkosi Siband/BloombergThis article is for subscribers only.
Vivendi SE’s Canal+’s mandatory all-cash offer for MultiChoice Group Ltd. of 125 rand a share, that was first announced in April this year, will open on Wednesday.
The offer, valuing the company at $3 billion, will close on April 25 and the results will be released on regulatory wires on April 29, according to the combined circular that was published on Tuesday. The French firm already owns 45.2% of MultiChoice shares, after investing €1.2 billion ($1.3 billion) into the company, said Canal+ Chief Executive Officer Maxime Saada on a call.