German pay-TV broadcaster Sky Deutschland is now 100% owned by UK parent company Sky UK through its subsidiary Sky German Holdings.
The remaining 3.82% of the equity held by minority shareholdings was transferred today by operation of law to Sky German Holdings. The stakeholders affected by the squeeze-out will be paid €6.68 per share in accordance with the German stock corporation act.
With the move, Sky Deutschland implements the resolution adopted at the extraordinary general meeting on July 22, 2015 which was at the same time filed in the commercial register at the lower court of Munich.
“The full acquisition of Sky Deutschland is the latest step in creating an even stronger business for the future. The opportunity ahead is substantial and we have a strong platform on which to build and deliver benefits for customers and shareholders alike,” said Sky CEO Jeremy Darroch.
The stock listing of Sky Deutschland’s shares will be suspended shortly.
The full takeover of Sky Deutschland takes place as part of the bundling of Sky’s activities in Europe.