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Mediaset acquires ProSiebenSat.1 stake; American Tower to buy Eaton Towers

S&P Global Market Intelligence provides a wrap-up of European media and communications deal announcements, completions and updates from May 27 to May 31.

TOP NEWS

* Italian broadcaster Mediaset SpA has confirmed it acquired a 9.6% stake in German media company ProSiebenSat.1 Media SE. The transaction will provide Mediaset with up to 9.9% voting rights in ProSiebenSat.1, excluding treasury stocks. The two companies rejected a newspaper report claiming they would be seeking a Europewide TV alliance following the stake purchase, Handelsblatt reported May 31. Il Messaggero had originally reported that Mediaset and ProSiebenSat.1 would be looking to create a company based in the Netherlands.

* American Tower Corp. agreed to acquire Eaton Towers Holdings Ltd. for a total consideration of approximately $1.85 billion, including the assumption of existing debt. American Tower expects Eaton's assets to generate approximately $260 million in property revenue and about $165 million in gross margin during the first full year of their integration into the buyer's portfolio. The transaction is scheduled to close by the end of 2019, subject to customary conditions and regulatory approvals. Eaton is a London-based owner and operator of approximately 5,500 communications sites serving the African market.

M&A media

* France-based Canal Plus SA, a unit of Vivendi SA, has agreed to acquire Luxembourg-based pay TV operator M7 Group SA for slightly more than €1 billion, Bloomberg News reported. Vivendi said the acquisition of M7 Group will add more than €400 million in revenue and increase profit for both the company and Canal Plus, the news outlet noted, citing a company statement. The deal, subject to the European Commission's approval, is expected to close in September, M7 Group said May 27.

M&A communications

* Sweden-based Tele2 AB is selling its Croatian business for €220 million to southeastern European operator United Group BV, according to a May 31 news release. The disposal is in line with Tele2's strategy to focus on its core markets, including those located in the Baltic Sea region. Tele2's board of directors will consider how to use the proceeds from the transaction. The transaction is expected to close before the end of 2019, subject to regulatory approvals.

* LDC (Managers) Ltd., the private equity arm of Lloyds Banking Group PLC, provided significant investment to Texthelp Ltd. LDC said it will help the company accelerate its growth plans in new and existing markets, and develop new products, primarily for the data analytics market. The transaction marks the exit of longtime sponsor Delta Partners Ltd., which initially invested in Texthelp in December 1996. Texthelp is an international education and corporate software provider based in the U.K.

* NTT Communications Corp. unit NTT Com Managed Services has fully acquired Spanish hyperscale cloud-managed services provider CAPSiDE SL. Capside will continue operating independently following the deal. The acquisition is expected to help broaden Capside's product offering and footprint, while also giving a boost to NTT Communications' capability in the area of managed services. NTT Communications is owned by Japan's Nippon Telegraph & Telephone Corp.

* NXP Semiconductors NV agreed to acquire the wireless connectivity business of Marvell Technology Group Ltd. for $1.76 billion in cash. The all-cash acquisition includes Marvell's Wi-Fi and Bluetooth products and approximately 550 global employees, NXP said May 29. NXP said the deal should add to its non-GAAP operating profit in the first full quarter after closing, which is expected by the first quarter of 2020, subject to regulatory approvals and other closing conditions.

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