The total cash consideration payable to RTL Group for its 100 per cent shareholding in Five will be EUR 125 million (GBP 103.5 million).
Gerhard Zeiler, Chief Executive Officer of RTL Group, said: “With a significant recovery of the UK TV advertising market and Five performing well in the first half of 2010, we saw a window of opportunity to realise a transaction based on a fair evaluation of Five. The disposal is in line with RTL Group’s strategy of being number one or two in each of our markets. I would like to thank the whole team at Five and CEO & Chair Dawn Airey for their passion and professionalism, especially in the difficult past 20 months which saw a comprehensive restructuring of the company.”
JP Morgan has acted as exclusive financial advisor to RTL Group in this transaction.
23 July 2010 - RTL Group, Luxembourg