Mediahuis, Talpa and TMG reach agreement

Mediahuis buys interest in TMG from Talpa and TMG sells interest in Talpa Radio to Talpa




Mediahuis NV (‘Mediahuis’), Talpa Beheer B.V. and Talpa Holding N.V. (‘Talpa’) and Telegraaf Media Groep N.V. (‘TMG’) have reached agreement on December 1, 2017 concerning two (intended) transactions: (i) the sale of Talpa’s 29.16% interest in TMG to Mediahuis and (ii) the sale of TMG’s 23% interest in Talpa Radio Holding B.V. (‘Talpa Radio’) to Talpa. The transactions are inextricably linked. The transactions have no negative consequences for the organisation or on employment at TMG.

Purchase price per TMG share
Mediahuis will pay in cash to Talpa an amount of EUR 6.00 per (depository receipt for a) TMG share for a 29.16% interest in TMG (equal to 13,516,049 TMG shares). The price per (depository receipt for a) share certificate is equal to the price paid under the public offer on all (depository receipts for) shares in TMG of 19 April 2017. The purchase price that Talpa pays in cash for the 23% interest of TMG in Talpa Radio results in a book profit of more than EUR 8 million. The transaction is subject to recommendation of the participation councils.

Pim Schmitz, CEO of Talpa: ‘We are very happy with the deal as a whole. For the roll-out of Talpa Network, it is of strategic importance to have all the shares of the radio company in our possession, which is what we were aiming for. For TMG, it is better to be involved with one powerful shareholder instead of two. That is what we have said all along. In the meantime, Talpa is working well with TMG and there are more joint projects on the horizon.’

Gert Ysebaert, CEO of Mediahuis: ‘We are pleased that the constructive negotiations with Talpa have now led to this result. We will continue to reinforce the new direction of TMG. This is in the interest of all parties.’

Marc Vangeel, CEO of TMG: ‘I am very satisfied with these (intended) transactions. This will give us some peace and quiet to concentrate fully on implementing the future plans for TMG. Making this company strong and leading again is and remains our main objective.’

This release is a translation of the original text in Dutch. In the event of a discrepancy between the two versions, the Dutch version prevails.