Corporate Takeover

(Photo credit: REUTERS/Esa Alexander) Originally published by Broadcast Media Africa French media giant Canal+ has officially acquired approximately 94.39 percent of MultiChoice Group’s issued ordinary shares, following a highly successful mandatory buyout in which more than 90 percent of shareholders agreed to the sale. According to a joint statement released by the two companies, Canal+ will now proceed with a “squeeze-out” process under section 124(1) of South Africa’s Companies Act, […]