Astorg has agreed to sell M7 Group to Canal+, a subsidiary of French media company Vivendi. No financial terms were disclosed. The deal is expected to close in September 2019. Based in Luxembourg, M7 Group is a pay TV operator.
Paris, 27 May 2019 — Astorg announces today the signature of a binding agreement for the sale of M7 Group to Canal+, a subsidiary of the French listed media company Vivendi. The proposed transaction is now only subject to the clearance from the relevant regulatory authorities. The transaction is expected to close later this year in September 2019.
Headquartered in Luxembourg, the M7 Group is one of the largest pay TV operators in Europe and sells hybrid satellite / OTT Pay TV packages to 3 million homes, through six different brands across seven countries in Europe. M7 also operates an internet and telephony provider in the Netherlands called Online.nl. M7 is a leading DTH satellite Pay TV operator in the Benelux region as well as in the Czech Republic and Slovakia.
Since 2014, M7 Group’s majority shareholder is Astorg, a leading European private equity firm which has backed since its entry the ambitious development plan of the M7 management team through organic and inorganic initiatives.
Commenting on the acquisition by Canal+, Charles-Hubert le Baron, at Astorg said: “Since our cooperation with M7 in 2014, the company has continued to expand its business rapidly in Eastern Europe, while further upselling its subscriber base across all geographies. In line with our investment philosophy, Astorg has encouraged M7 to develop its external growth through acquisitions (the most recent one being UPC Direct in Eastern Europe) and also investments made to improve the customer experience (e.g. Over-the-Top features). Canal+ strong interest in M7 is a testimony of the remarkable strategy rolled-out by the M7 management team.”
Canal+ was a natural strategic partner to pursue the M7 project. Marc Antoine d’Halluin, Chairman of the M7 board, stated: “Based on its current geographical footprint and positioning, Canal+ is a very credible and complementary partner to support the hybrid satellite / OTT Pay TV strategy of M7. Canal+ will contribute to the further development of M7, where OTT usage and access to more content will be decisive. This is a logical step for the M7 success story as both M7 and Canal+ share the same operational values centered on a great customer experience.”
The interest raised for the M7 Group is also caused by the relentless drive of our Management Team to grow. Hans Troelstra, CEO of M7 Group further commented: “Over the last 5 years, we have successfully transformed our Satellite HD offers to fully interactive hybrid offers available on all devices including Smart – TV’s. Following this transaction M7 will get access to the content creation and channel publishing capabilities of Canal+. The operational model from M7, and our ambitions to grow in Europe, will not change and all operations will continue to be managed from our Luxembourg headquarters.”