CANAL+ and MULTICHOICE announced in a press release published on July 23 that the South African Competition Tribunal has approved CANAL+'s mandatory takeover bid to acquire all outstanding ordinary shares of Multichoice Group not already owned by CANAL+, excluding treasury shares, from MCG shareholders for ZAR 125.00 per share.
This agreement is subject to compliance with a set of guaranteed public interest commitments (participation of companies controlled by historically disadvantaged persons and small, micro, and medium-sized enterprises in the South African audiovisual sector).
This package will maintain funding for local general entertainment and sports content in South Africa, providing local content creators with a solid foundation for future success.
The Tribunal's approval follows a positive recommendation from the South African Competition Commission, announced on May 21, 2025, and concludes the competition review process in South Africa.
According to Maxime Saada, CEO of CANAL+, "The approval of the South African Competition Tribunal marks the final stage of the competition process in South Africa and paves the way for us to complete the transaction in line with the previously announced timetable. This is a major step forward in our efforts to bring together two iconic media and entertainment companies and create a true champion for Africa. I am excited about the potential this transaction offers to all stakeholders, including South African consumers, creative businesses, and the country's sports ecosystem. The combined group will benefit from increased scale, greater exposure to high-growth markets, and the ability to generate significant synergies."
The parties will now take the necessary steps to implement the structure announced on February 4, 2025, before the October 8, 2025 deadline.
This structure provides for the separation of MultiChoice Ltd, the entity that contracts with South African subscribers, and its transformation into an independent entity, majority-owned and controlled by "historically disadvantaged persons" (HDPs).