Latest news with #R125
TimesLIVE
28-05-2025
- Automotive
- TimesLIVE
Nissan plans $7bn funding, including loan backed by UK government
Japan's struggling Nissan is considering raising more than ¥1-trillion (R125,794,820,900) from debt and asset sales which would include a syndicated loan guaranteed by the UK government, Bloomberg News said on Wednesday. The country's third-biggest carmaker plans to issue as much as ¥630bn (R78,291,108) worth of convertible securities and bonds, including high-yielding US dollar and euro notes, Bloomberg News said, citing documents it had seen. Nissan is also considering taking out a £1bn (R24,260,850,000) syndicated loan guaranteed by UK Export Finance, the report said. The report said Nissan is also looking at selling part of the stakes it holds in French carmaker and long-standing alliance partner Renault and in battery maker AESC Group, and plants in SA and Mexico. Representatives for Nissan and UK Export Finance did not respond to a request for comment. Bloomberg News cited sources as saying Nissan's board did not appear to have approved the funding proposal yet, leaving it unclear whether it would happen. The proposal was also slated to include the rollover of some debt, the report said. Earlier this month, the company presented a sweeping cost-cutting plan under which it plans to reduce its workforce by around 15% and cut car plants to 10 from 17 globally. Sources told Reuters this month Nissan is considering plans to shut two car assembly plants in Japan and overseas factories, including in Mexico, and stop production in SA as part of its cost-cutting plan. Nissan's shares rose more than 4% after the report but they gave up most of the gains and were last trading up 0.6%.
Eyewitness News
21-05-2025
- Business
- Eyewitness News
Canal+ buyout of SA's MultiChoice one step closer
JOHANNESBURG - South Africa's competition authority announced Wednesday it had approved the buyout of Africa's largest pay TV enterprise MultiChoice by France's Canal+, which wants to expand its footprint on the continent. The merger, which has been in the works for nearly a year, needs the final go-ahead from the commission's Competition Tribunal, it said in a statement. Canal+ holds around 45% of MultiChoice's shares and offered last year to acquire the remainder for R125 (6.16 euro) per share. Canal+ is present in 25 African countries through 16 subsidiaries and has eight million subscribers, according to the French group. MultiChoice operates in 50 countries across sub-Saharan Africa and has 19.3 million subscribers, it says. It includes Africa's premier sports broadcaster, SuperSport, and the DStv satellite television service. "This is a major step forward in our ambition to create a global media and entertainment company with Africa at its heart," Canal+ CEO Maxime Saada said in a statement. The commission said its approval of the merger was subject to public-interest conditions worth about 26 billion rand over three years, including increasing the shareholding of people disadvantaged under South Africa's white-minority apartheid regime. It will also maintain the MultiChoice headquarters in South Africa. A date for the Tribunal's decision on the merger has not been announced but Canal+ said it was aiming for the deal to be completed by early October.
eNCA
21-05-2025
- Business
- eNCA
Canal+ buyout of S.Africa's MultiChoice one step closer
South Africa's competition authority announced Wednesday it had approved the buyout of Africa's largest pay TV enterprise, MultiChoice by France's Canal+, which wants to expand its footprint on the continent. The merger, which has been in the works for nearly a year, needs the final go-ahead from the commission's Competition Tribunal, it said in a statement. Canal+ holds around 45 percent of MultiChoice's shares and offered last year to acquire the remainder for R125 (6.16 euro) per share. Canal+ is present in 25 African countries through 16 subsidiaries and has eight million subscribers, according to the French group. MultiChoice operates in 50 countries across sub-Saharan Africa and has 19.3 million subscribers, it says. It includes Africa's premier sports broadcaster, SuperSport, and the DStv satellite television service. "This is a major step forward in our ambition to create a global media and entertainment company with Africa at its heart," Canal+ CEO Maxime Saada said in a statement. The commission said its approval of the merger was subject to public-interest conditions worth about R26 billion over three years, including increasing the shareholding of people disadvantaged under South Africa's white-minority apartheid regime. It will also maintain the MultiChoice headquarters in South Africa. A date for the Tribunal's decision on the merger has not been announced but Canal+ said it was aiming for the deal to be completed by early October.
The South African
21-05-2025
- Business
- The South African
MultiChoice moves one step closer to being SOLD
South Africa's competition authority announced on Wednesday it had approved the buyout of Africa's largest pay TV enterprise MultiChoice by France's Canal+, which wants to expand its footprint on the continent. The merger, which has been in the works for nearly a year, needs the final go-ahead from the commission's Competition Tribunal, it said in a statement. Canal+ holds around 45 percent of MultiChoice's shares and offered last year to acquire the remainder for R125 per share. Canal+ is present in 25 African countries through 16 subsidiaries and has eight million subscribers, according to the French group. MultiChoice operates in 50 countries across sub-Saharan Africa and has 19.3 million subscribers, it says. It includes Africa's premier sports broadcaster, SuperSport, and the DStv satellite television service. 'This is a major step forward in our ambition to create a global media and entertainment company with Africa at its heart,' Canal+ CEO Maxime Saada said in a statement. The commission said its approval of the merger was subject to public-interest conditions worth about 26 billion rand over three years, including increasing the shareholding of people disadvantaged under South Africa's white-minority apartheid regime. It will also maintain the MultiChoice headquarters in South Africa. A date for the Tribunal's decision on the merger has not been announced, but Canal+ said it was aiming for the deal to be completed by early October. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news. By Garrin Lambley © Agence France-Presse
The Citizen
21-05-2025
- Business
- The Citizen
Competition Commission greenlights Multichoice and Canal+ deal
Canal+ already owns 45% of Multichoice's shares, and with this deal, it intends to buy the remaining shares for R125 per share, valuing the group at R55 billion. The Competition Commission has recommended that the Competition Tribunal approve the acquisition of Multichoice by French Media giant Canal+, subject to conditions relating to public interest considerations. Canal+ already owns 45% of Multichoice's shares, and with this deal, it intends to buy the remaining shares for R125 per share, valuing the group at R55 billion. ALSO READ: Canal+ takeover: MultiChoice faces uncertain future amid strategy discrepancies Multichoice and Canal+ deal conditions 'The conditions include a package of guaranteed public interest commitments proposed by the parties,' said Multichoice. 'The package supports the participation of firms controlled by Historically Disadvantaged Persons (HDPs) and Small, Micro and Medium Enterprises (SMMEs) in the audio-visual industry in South Africa. 'This package will maintain funding for local South African general entertainment and sport content, providing local content creators with a strong foundation for future success.' Next step for Multichoice and Canal+ deal Now the ball is in the Tribunal's court to make a decision on the transaction. 'The approval of the Tribunal and the fulfilment of the remaining conditions are required for the Proposed Transaction to become unconditional.' Calvo Mawela, CEO of MultiChoice Group, said: 'The recommendation from the Competition Commission is a key step forward towards the completion of the transaction and a recognition of the strong package of public interest commitments provided by the parties.' Maxime Saada, CEO of Canal+, said: 'This represents a significant step forward in our ambition to establish a global media and entertainment company with Africa at its core. We are committed to investing in local content and supporting South Africa's creative and sports ecosystems.' ALSO READ: MultiChoice profit nosedives with huge decline in subscribers Commission and Tribunal The Competition Commission is an independent adjudicative body established to regulate competition between firms in the market. The Competition Tribunal is an independent adjudicative body that adjudicates on matters referred to it by the Competition Commission. The Commission is the investigating and prosecuting agency in the competition regime, while the Tribunal is the court. Weak performance Dstv, operated by Multichoice, has seen its subscribers decline from more than 23 million to 19.3 million in less than two years. The group announced earlier this year that the challenging consumer environment has resulted in a decline in subscribers and limited revenue growth. 'The group was navigating unprecedented external adversities, including macro-economic headwinds, as well as disrupted power supply and severe currency depreciation in some of its key markets in the Rest of Africa.' DStv price increases DStv has announced price adjustments across its packages, effective 1 April 2025: Premium: From R929 to R979 (+R50) Compact Plus: From R619 to R659 (+R40) Compact: From R469 to R479 (+R10) Family: From R329 to R339 (+R10) Access: From R139 to R150 (+R11) EasyView: From R29 to R30 (+R1) Access Fees: From R120 to R125 (+R5) Add Movies: From R79 to R49 (-R30) DStv Stream: No adjustment Showmax PL: From R69 to R99 (+R30) Showmax Entertainment mobile: From R45 to R50 (+R5) NOW READ: WATCH: DStv's 'R100' advert deemed misleading by regulatory board
