Canal+ takes control of MultiChoice Group as offer becomes unconditional

By InstinctBusiness Sep 27, 20250

Canal+ and MultiChoice Group have confirmed that their mandatory takeover offer has become unconditional, marking the completion of all necessary regulatory approvals.

The French media conglomerate now holds effective control of MultiChoice and has initiated the integration process, heralding a transformative shift in Africa’s media landscape.

Canal+ announced significant executive and board changes effective today. David Mignot will assume the role of CEO for Canal+ African operations, encompassing MultiChoice Group, while Nicolas Dandoy steps in as CFO.

Maxime Saada, Canal+ Group CEO, will serve as the executive chairman of the newly integrated entity.

Outgoing MultiChoice CEO Calvo Mawela will transition to chairman of Canal+’s African operations, and former CFO Timothy Jacobs will take a senior finance role within the combined group.

The MultiChoice board underwent a reshuffle to incorporate Canal+ representation while retaining independence, with a majority of independent directors to steer a renewed commercial focus toward sustainable growth.

“Canal+ has constituted a new board to ensure stability during this transition, introducing fresh skills and international expertise,” the company stated. The updated board includes returning independent non-executive directors alongside new appointees Maxime Saada, David Mignot, Nicolas Dandoy, and Jacques du Puy, appointed per MultiChoice’s memorandum of incorporation. Former board members Calvo Mawela, Timothy Jacobs, Christine Sabwa, Dr.

Fatai Sanusi, and Andrea Zappia resigned effective Monday, September 22, 2025, with Canal+ expressing gratitude for their pivotal roles in securing this landmark deal.
As of September 19, 2025, Canal+ directly owns 46.0% of MultiChoice shares (200,030,591), with an additional 2.2% (9,767,641 shares) tendered, solidifying its control. Further acceptances will boost its stake.

Dubbed the largest transaction in Canal+’s history, the acquisition positions the combined group as a global media powerhouse, serving over 40 million subscribers across 70 countries in Africa, Europe, and Asia with a workforce of approximately 17,000.

In South Africa, Canal+ and MultiChoice have pledged robust public interest measures, including support for historically disadvantaged firms and local content production. Customer subscription and billing arrangements will remain unchanged, with a strategic update slated for Q1 2026.