Sky Deutschland will soon fully be owned by parent company Sky UK as the German pay-TV broadcaster’s shareholders approved the request by majority shareholder Sky German Holdings to squeeze out the minority shareholders and remove the company from the German stock exchange market.
The shares of the minority shareholders will be transferred to Sky German Holdings against a cash compensation of €6.68 per share in accordance with sections 327a et seq. of the German Stock Corporation Act.
The shareholders of Sky Deutschland have approved the transaction requested by Sky German Holdings at an extraordinary general assembly in Munich on July 22, 2015. It was the only proposal on the agenda.
96.97% of capital stock were present at the meeting. The resolution was passed with 99.4% votes in favor while 0.6% voted against the move.
96.05% of Sky Deutschland’s shares were previously held by Sky German Holdings and 3.95% were in free float at the German stock exchange. Sky UK’s plans to take over full control of Sky Deutschland by squeezing out the minority shareholders and taking the company off the stock market emerged in February 2015.