The Meridian

Groupe Canal+ acquisition of MultiChoice Group (R55bn mandatory offer)

22 September 2025 Public record

Value
R55bn
Date
22 September 2025
Status
Offer unconditional
Transaction type
Acquisition, Takeover Offer
Practice area
Competition and Regulatory, Mergers and Acquisitions
Sector
Media and Entertainment, Telecoms
Jurisdiction
Multi-jurisdictional, Nigeria, South Africa
Client
Groupe Canal+ (offeror); MultiChoice Group (target)

Summary

Canal+: Bowmans (lead African counsel) and Bryan Cave Leighton Paisner. MultiChoice: Webber Wentzel, Werksmans, Herbert Smith Freehills Kramer (competition) and DLA Piper (offer mechanics), with Udo Udoma & Belo-Osagie (Nigeria) and MDR Advogados (Mozambique). Offer of R125 a share, about a 10.6% premium; unconditional on 22 September 2025.

Scope of legal work

Canal+: Bowmans (lead African counsel) and Bryan Cave Leighton Paisner. MultiChoice: Webber Wentzel, Werksmans, Herbert Smith Freehills Kramer (competition) and DLA Piper (offer mechanics), with Udo Udoma & Belo-Osagie (Nigeria) and MDR Advogados (Mozambique). Offer of R125 a share, about a 10.6% premium; unconditional on 22 September 2025.

Advisers

LawyerFirmRole
Ezra DavidsBowmansChairman and Senior Partner (lead, Canal+)
Madelein van der WaltWebber WentzelPartner (lead, MultiChoice)
Wendy RosenbergWerksmans AttorneysDirector, Head of Digital Media (lead, MultiChoice)

Sources

Compiled by Meridian from the public announcements and filings listed under Sources.

  • African Law & Business, counsel on the Canal+/MultiChoice transaction (25 September 2025)
  • Industry awards shortlist (2026) listing counsel on the transaction
  • DealMakers Awards 2025, Deal of the Year
  • Meridian market dataset, October 2026: verification status Verified
  • External researchers

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