Canal+ has officially completed its acquisition of MultiChoice, bringing an end to a multi-year takeover process and making the African pay-TV giant a wholly owned subsidiary of the international media company.
David Mignot, Chief Executive Officer of Canal+ Africa and MultiChoice, said the completion of the deal marks the beginning of a new phase of long-term growth for the broadcaster.
He noted that MultiChoice is now part of a global media group operating in 70 countries, with a strong presence across Africa through operations in more than 45 nations.
The acquisition process began after Canal+ gradually increased its stake in the Johannesburg-listed company through open-market share purchases. After surpassing the required regulatory threshold, the French media company launched a formal offer to acquire the remaining publicly held shares.
Although Canal+ had already gained operational control of MultiChoice last year, the transaction was only recently finalized after receiving all necessary regulatory approvals and completing the remaining share transfers.
The entire company was valued at approximately $3 billion (R55.3 billion), based on Canal+’s offer of R125 per share for MultiChoice’s roughly 442.5 million outstanding shares. Since Canal+ already owned about 45 percent of the company before the final acquisition, it spent an estimated R35 billion (around $1.9 billion) to purchase the remaining shares.
The acquisition comes as Africa’s pay-TV industry faces increasing pressure from rising living costs and growing competition from global streaming platforms.
As part of Canal+, MultiChoice is expected to benefit from greater financial resources, improved bargaining power for acquiring sports and entertainment rights, and increased investment in technology. The company also plans to strengthen its streaming platform, Showmax, while expanding the production of locally made African films, television shows, and sports content to better serve audiences across the continent.
