French media giant Canal+ has officially acquired 94.4% of MultiChoice Group (MCG) shares following the closure of its offer on Friday, 10 October, paving the way for the delisting of the South African broadcaster from the Johannesburg Stock Exchange (JSE).
The transaction, now in line with the agreement accepted by shareholders holding over 90% of the offer shares, means MultiChoice becomes a wholly-owned subsidiary of Canal+.
Next steps
The group will now proceed with a mandatory buyout of remaining shares, as allowed under South African takeover regulations.
As part of the next steps, Canal+ will apply for MultiChoice’s delisting from the JSE, with a formal notice of suspension expected to follow shortly.
However, this is not the end of Canal+ on South African markets.
“A secondary inward listing will preserve South African investor access and market liquidity, allowing local investors to hold shares in a leading global media and entertainment company on the JSE,” the group said in a statement.
Canal+, which is listed in London, said its upcoming JSE listing will be done through a fast-track procedure, pending regulatory approvals.
The move is part of conditions agreed with competition authorities, ensuring continued local market participation and investment access.
Largest Acquisition in Canal+ History
Canal+ CEO Maxime Saada described the MultiChoice acquisition as the largest transaction in the group’s history, and emphasised the company’s long-term commitment to South Africa and the broader African continent.
“It’s important that South African investors have continued access to Canal+, given the significant role we will play in Africa’s media and creative economy,” Saada said.
The combined entity now boasts over 40 million subscribers across nearly 70 countries in Africa, Europe, and Asia, supported by a workforce of approximately 17 000 employees.
Integration between MultiChoice and Canal+ has already begun, with the company expected to leverage MultiChoice’s strong local presence and production capabilities, especially in sports and local content, to grow its global portfolio.
