Canal+ Group has emerged as the largest shareholder in Viaplay Group after the Stockholm-based company completed its recapitalisation programme.
The programme has included a SEK 4 billion equity capital injection, comprising a SEK 3.1 billion directed share issue and a SEK 0.9 billion rights issue, a SEK 2 billion write-down of existing debt obligations, of which SEK 0.5 billion has been converted into equity, an amendment and extension of existing bank and bond commitments totalling SEK 14.6 billion.
Simon Duffy, Viaplay Group interim Chair of the Board of Directors: “The completion of this complex and comprehensive recapitalisation programme is a major milestone in the rebuilding of Viaplay Group, and provides a strong platform for a successful future. I would like to thank the shareholders, bondholders, loan and guarantee providers for making the concessions and commitments that were necessary to secure the survival of the Group. This marks a new beginning for Viaplay Group as the Nordic region’s leading entertainment provider.”
Canal+ and PPF, who both subscribed for shares in the Rights Issue and in the Directed Issue, will increase their shareholdings to 29.33 per cent for Groupe Canal+ and 29.29 per cent for PPF.
The Vivendi-owned pay-TV group has increased its share from 12%, confirming its position as the largest shareholder at a time of continued expansion and acquisition. “Maxime Saada, Canal+ Group Chairman and CEO, said: “Our group’s support to Viaplay is a new testimony to our ambition to become a global player in video entertainment and extend the group’s footprint internationally, with a focus on Europe, Africa, and Asia, as also shown very recently by our offer to acquire the entire share capital of Multichoice Group and our investment in leading Asian steaming platform Viu last year.”
PPF Group, a European investment firm based in Prague, Czech Republic acquired 6% in Viaplay last August. It also controls CME running 43 television channels broadcasting to the Czech Republic, Croatia, Bulgaria, Romania, Slovakia, and Slovenia.
Other investors include existing shareholders Nordea Investment Management and Handelsbanken Fonder.
