Canal SA has formally announced the compulsory acquisition of all remaining shares in MultiChoice Group Limited, completing its takeover of Africa's leading entertainment company. The acquisition, executed under Section 1241 of South Africa's Companies Act 2008, follows the acceptance of the Canal offer by shareholders holding more than 90 of MultiChoice's issued ordinary shares, giving Canal effective control with a 94.39 stake.
This move marks the final step in Canal's strategic integration of MultiChoice, which will soon be delisted from the Johannesburg Stock Exchange JSE and A2X Markets. According to the official notice, trading in MultiChoice shares will be suspended on 27 October 2025, and the delisting is expected on 10 December 2025, pending regulatory approvals from the JSE, A2X, and the South African Reserve Bank.
Canal confirmed that all remaining MultiChoice shareholders who did not accept the initial offer will have their shares compulsorily acquired at the same offer consideration and under the same terms as the original offer. Shareholders have a 30-business-day window to exercise their rights under Section 1242 to challenge the acquisition in court. If no challenges are raised, the compulsory acquisition and payment for the shares will occur by 5 December 2025.
