RTL Group, which is rumoured to be interested in acquiring ITV, has announced that it has sold its remaining 25% shareholding in Sportfive, the European sports rights marketing firm, to Lagardère SCA.
Last week it was reported that RTL, Europe’s largest broadcaster, was in talks with private equity backers on a possible £5 billion bid for ITV (see
RTL And Equity Firms Could Make ITV Bid).
An RTL bid which made use of private equity firms would enable the company to acquire a minority stake in ITV without calling on Bertelsmann, its parent company, to fund the deal.
However, BSkyB’s acquisition of a 17.9% stake in ITV for £940 million (see ITV Share Price Falls After BSkyB Acquires Stake), could have implications for any possible RTL bid for the broadcaster.
The sale is part of Lagardère’s full acquisition of Sportfive from the current shareholders Advent International, Goldman Sachs Capital Partners, RTL Group and Sportfive’s management.
The transaction, which was also announced today, is based on an enterprise value of €865 million for Sportfive.
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