Mediawan’s shareholders approved the proposed acquisition of Groupe AB with 82.2% of the votes.
In January, Mediawan, the media investment fund created by Matthieu Pigasse, Xavier Niel and Pierre-Antoine Capton, entered into exclusive negotiations to acquire Groupe AB. The founders did not take part in the vote.
The company will now work to close the deal with the two main shareholders of Groupe AB, TF1 and Claude Berda, expecting to complete before the end of June.
Mediawan negotiated the acquisition of Groupe AB for €270 million in cash. AB expects to generate approximately €163 million in sales for €37 million of EBITDA. The company mainly derives its income from the production and distribution of TV series, cartoons, documentaries and TV movies.
The group also owns and operates channels in France (AB1, RTL9, TMC Monte Carlo in partnerships, and a host of thematic channels) and in French-speaking Belgium (AB3 and AB4).
