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Canal+ already owns 45% of MultiChoice’s shares, and with this deal, it intends to buy the remaining shares for R125 per share, valuing the group at more than R50 billion.
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French Media giant Canal+ is one step closer to acquiring the remaining stake of MultiChoice, as the Competition Tribunal has approved the deal.
MultiChoice’s primary business is providing video entertainment through multiple platforms, including DStv, GOtv, and ShowMax.
Canal+ already owns 45% of MultiChoice’s shares, and with this deal, it intends to buy the remaining shares for R125 per share, valuing the group at more than R50 billion.
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Canal+ to buy MultiChoice
The approval from the Competition Tribunal follows a recommendation from the Competition Commission that the Tribunal should approve the deal, subject to conditions related to public interest considerations.
The Competition Tribunal is an independent body that adjudicates on matters referred to it by the Competition Commission.
While the Competition Commission is an independent adjudicative body established to regulate competition between firms in the market, the commission is the investigating and prosecuting agency in the competition regime, while the Tribunal is the court.
“The approval by the tribunal concludes the competition review process in South Africa,” stated the Stock Exchange News Service (SENS) announcement made on Wednesday.
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Deadline for the MultiChoice and Canal+ deal
The announcement stated that the parties remain on track to complete the Mandatory Offer by Canal+ within the timeline announced on 8 April 2025, and prior to the long-stop date of 8 October 2025.
“The approval by South Africa’s Competition Tribunal marks the final stage in the South African competition process and clears the way for us to conclude the transaction in line with our previously communicated timeline,” said Maxime Saada, CEO of Canal+.
He added that he is positive about the potential this transaction will unlock for all stakeholders, including South African consumers, creative businesses and the nation’s sporting ecosystem.
“The combined group will benefit from enhanced scale, greater exposure to high-growth markets and the ability to deliver meaningful synergies.”
Agreed conditions of the deal
“As was previously disclosed, the agreed conditions include a robust package of guaranteed public interest commitments proposed by the parties,” read the announcement.
“The package supports the participation of firms controlled by Historically Disadvantaged Persons (HDPs) and Small, Micro and Medium Enterprises (SMMEs) in the audio-visual industry in South Africa.
“This package will maintain funding for local South African general entertainment and sports content, providing local content creators with a strong foundation for future success.”
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