CLT-UFA's bid for Warburg Pincus's stake in Channel 5
Luxembourg, January 5, 2000
CLT-UFA UK Television Limited, holding 29% of the shares in Channel 5, confirms that, after consultation with the other continuing Channel 5 shareholders, it has notified the Board of Channel 5 that it is exercising its pre-emption rights to the full extent of its entitlement in respect of the 18% holding of shares and loan stock in Channel 5 being sold by Warburg Pincus Ventures L.P. The resulting holding of CLT-UFA UK Television Limited will depend upon the extent to which other shareholders exercise their pre-emption rights.
The price at which this 18% holding in Channel 5 is being sold is USD 277m valuing the entire company at approximately USD 1.539m.
CLT-UFA UK Television Limited is a wholly owned subsidiary of CLT-UFA S.A.
CLT-UFA is Europe’s largest radio and television group. With holdings in some 40 radio stations and television channels -most of them leaders in their respective markets – RTL in France, RTL Television in Germany, RTL TVI in Belgium HMG in the Netherlands and UFA Sports in Europe. The group is also active in production and rights distribution.
