De Mol-Mediaset consortium buys Endemol for 2.6bn Euro

John de Mol has bought back Endemol, the production company he founded with Joop van den Ende, and responsible for a string of TV hits. A Consortium comprising of John de Mol’s Cyrte Fund BV, Mediaset’s Mediacinco Cartera SL and GS Capital Partners VI Fund, LP have agreed to buy 99.7% of Endemol Investment Holding BV, the company said today. The holding company indirectly owns 75% of Endemol. The Consortium was especially created by the three parties to buy and control Endemol with each of the companies owning one third.

The total consideration for the sale of Endemol Holding amounts to €2.629 billion for 75% of Endemol N.V. valued at €25 per share cum dividend and including the additional assets and liabilities within Endemol Holding and its subsidiaries. This price implies a premium on Endemol s latest closing price and represents a capital gain close to €1,400 million for Telefónica. But the original price Telefonica paid when it acquired Endemol in 2000 was around €5.5 billion.

As part of the agreement, the Consortium has committed to launch an unconditional public offer for the remaining 25% of Endemol N.V. at a price at least equal to €25 per share cum dividend, as soon as practicable after closing of this transaction.

Late last week De Mol’s Cyrte Investments announced it has acquired the Hammer Horror assets and catalogue including 295 cult movie titles.