Johannesburg – The South African Competition Tribunal has authorized the Proposed Transaction by CANAL+ to purchase the MultiChoice Group, topic to agreed circumstances.
As beforehand disclosed, the agreed circumstances embody a sturdy proposal of assured public curiosity commitments proposed by CANAL+ and MultiChoice.
The circumstances additionally embody the implementation of the construction introduced on 4 February 2025.
The bundle helps the participation of corporations managed by Historically Disadvantaged Persons (HDPs) and Small, Micro and Medium Enterprises (SMMEs) within the audio-visual trade in South Africa.
This proposal will preserve funding for native South African basic leisure and sports activities content material, offering native content material creators with a robust basis for future success.
“The approval by South Africa’s Competition Tribunal marks the ultimate stage within the South African competitors course of and clears the best way for us to conclude the transaction in keeping with our beforehand communicated timeline,” Maxime Saada, CEO of CANAL+ stated.
“It is a vastly optimistic step ahead in our journey to convey collectively two iconic media and leisure firms and create a real champion for Africa.
” I’m excited in regards to the potential this transaction unlocks for all stakeholders, notably South African shoppers, artistic companies, and the nation’s sporting ecosystem.
“The mixed Group will profit from enhanced scale, better publicity to high-growth markets, and the power to ship significant synergies.”
The approval by the Tribunal follows a optimistic advice from South Africa’s Competition Commission as introduced on 21 May 2025 and concludes the competitors evaluation course of in South Africa.
The events stay on monitor to finish the Mandatory Offer by CANAL+ inside the timeline introduced on 8 April 2025, and earlier than the long-stop date of 8 October 2025.
“The announcement marks a major milestone and is a serious step ahead for each firms.
It displays the power of our strategic imaginative and prescient and our ongoing dedication to proceed uplifting the communities the place we function,” Calvo Mawela, CEO of MultiChoice Group, stated.
“We stay up for executing the remaining processes required to finish the transaction and to begin constructing one thing extraordinary: a worldwide media and leisure firm with Africa at its coronary heart.”
The events will now undertake the method wanted to implement the construction as beforehand introduced on SENS on 4 February 2025, which meets the necessities of all relevant legal guidelines.
These legal guidelines, together with the restrictions on international possession and management of South African broadcasting licences, are contained within the Electronic Communications Act, 2005.
The construction consists of MultiChoice (Pty) Ltd (Licence Co), the entity which contracts with South African subscribers, being carved out of the MultiChoice Group and turning into an unbiased entity, majority owned and managed by HDPs.
*This article first appeared in our sister publication TechFinancials.co.za
