Italy’s De Agostini Makes Offer for Zodiak Television

MILAN, May 27: The Italian
publisher De Agostini, whose television interests include Marathon Group,
Magnolia and a stake in Spanish broadcaster Antena 3, has offered 137 million
euros in cash to acquire Zodiak Television.

The offer is being made
through the subsidiary Goldcup, which is 91-percent owned by De Agostini, with
the balance held by Zodiak shareholders Ludo Poppe and Stefaan Soetewey. The
offer of SEK 40 per share represents a 33.8-percent premium on Zodiak’s closing
share price on May 23. Zodiak’s board has unanimously recommended the deal to
the company’s shareholders.

Lorenzo Pellicioli, the
CEO of De Agostini, commented: “Zodiak has consolidated a very interesting
position in the area of TV production. From this point of view it represents a
target that is particularly in line with De Agostini’s strategy of creating an
international platform. This strategy’s first steps were the acquisition of
Magnolia, active in Italy and Spain, and Marathon, which operates in France.”
Pellicioli also stated that his company’s global expansion plans are in line
with the goal’s of Zodiak’s top management.

—By Mansha Daswani