BSkyB completes acquisition of Sky Italia and 89.71 % of Sky Deutschland

sky summer_logoBSkyB has completed its acquisition of Sky Italia S.r.l and takeover offer for Sky Deutschland AG.

Previous reporting.

The Company has acquired 89.71% of the share capital of Sky Deutschland, with 87.45% acquired through the offer process and the balance acquired subsequent to the close of the offer acceptance period on 3 November 2014.

The acquisition of Sky Italia was for a total consideration of £2.45 billion, £2.07 billion paid in cash and the balance through the transfer to 21st Century Fox of BSkyB’s 21% stake in National Geographic Channel International.

The acquisition of 87.45% of Sky Deutschland through the offer process was for a total consideration of €5.50 billion (representing €6.75 per share), with a further 2.26% being acquired at an average price of €6.20 per share, amounting to €5.63 billion in aggregate.

The enlarged group will serve 20 million customers across five countries: Italy, Germany, Austria, the UK and Ireland. It will also be one of the largest employers in the sector with 31,000 staff across 30 main sites.

Group Chief Executive, Jeremy Darroch will oversee the enlarged group as well as continuing to lead the UK and Ireland business while Andrew Griffith will be Group Chief Financial Officer. Andrea Zappia will continue to lead the business in Italy as Chief Executive of Sky Italia and Brian Sullivan remains Chief Executive of Sky Deutschland AG.

UK, London & Italy, Milan & Germany, Unterföhring, Bavaria

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