ProSiebenSat.1 has announced it has closed the sale of its Scandinavian pay-TV division C More to TV4 AB, the broadcasting subsidiary of the Swedish Bonnier Group.
The share purchase agreement was made on June 16, 2008, but the deal first required clearance from the competition authorities in Sweden, Norway, Denmark and Finland.
C More, which operates the Canal+ brand in the Nordic region, was acquired as part of the ProSiebenSat.1 purchase of SBS Broadcasting.
Last week Bonnier received approval for the SEK3 billion (€290 million) deal from the Finnish Competition Authority (FCA). However, conditions set by the authority mean that the company should renounce the rights to the Finnish SM-Liigan ice hockey competition and offer a more flexible packaging of its programme offer.