CANAL+ Secures 94.39% Stake in MultiChoice, Moves to Full Acquisition and JSE Delisting
Once MCG is a wholly-owned subsidiary, CANAL+ will then initiate the process to terminate MCG’s listing on the JSE (Johannesburg Stock Exchange), subject to the necessary approvals.
CANAL+ and MultiChoice Group (MCG ) have announced the results of the Mandatory Tender Offer by CANAL+ for all of the shares of MultiChoice Group that it did not already own.
Following the close of the Offer process, CANAL+ will own approximately 94.39% of all MCG shares.
As the offer was accepted by more than 90% of MultiChoice shareholders, CANAL+ intends, in accordance with the provisions of the Companies Act, to compulsorily acquire all remaining MultiChoice shares (also known as a “squeeze out”). Once MCG is a wholly-owned subsidiary, CANAL+ will then initiate the process to terminate MCG’s listing on the JSE (Johannesburg Stock Exchange), subject to the necessary approvals.
In accordance with the commitment made by CANAL+ as part of the approval of the CANAL+ Offer by the South African competition authorities, the company will, subject to obtaining all regulatory approvals, undertake a secondary inward listing of CANAL+ on the JSE.
The integration of MultiChoice and CANAL+ has now commenced. Following an in-depth review, CANAL+ intends to inform the market of its detailed plans and synergies when it provides a strategic update for the combined Group during the first quarter of 2026.
“We are pleased with the overwhelming success of the offer. Following this outcome, we will now acquire the remaining shares in MultiChoice and seek a secondary inward listing of CANAL+ in Johannesburg, in addition to our primary listing in London. We were clear the day we launched the acquisition of MultiChoice that this was a commitment we wanted to make. Given the important role CANAL+ will now play in South Africa and across the African continent, we believe it is critically important that domestic investors have the are able to have exposure to a leading media and entertainment company on the Johannesburg Stock Exchange while investors continue to get access to CANAL+ through the London Stock Exchange platform.”
–Maxime Saada, CEO, CANAL+
