Parisian acquisitions firm Mediawan has taken steps to buy French indie producer, distributor and aggregator Groupe AB.
Under the deal, Mediawan will pay approximately US$289 million (€270 million) for Groupe AB, which is owned by Claude Berda (pictured) and French commercial network TF1.
The acquisition would position Mediawan as the second-largest pay-TV broadcaster in France.
Mediawan will raise €130 million in debt to finance the transaction, with the balance of the purchase price funded by using part of the available funds raised by the company at the time of its IPO, Mediawan said in a release.
The financing structure for the acquisition preserves financial flexibility for future investments for growth, including potential acquisitions, according to the company.
The purchase is subject to approval by shareholders, and a vote is scheduled for March 13. If approved, the transaction is expected to close in the first half of 2017.
Groupe AB is a leading producer, distributor and aggregator of television content in French-speaking Europe, with a strong potential for growth acceleration through channels, digital and production that will serve as a platform for future acquisitions.
Mediawan was founded in April 2016 by Pierre-Antoine Capton, Xavier Niel and Matthieu Pigasse with the intentions of acquiring target businesses or companies in the traditional and digital media content and entertainment industries throughout Europe.