Suez Lyonnaise des Eaux and M6 Metropole TV take over the 20% stake of CLT-UFA in TPS (Digital TV Satellite Broadcasting venture)
Suez Lyonnaise des Eaux, M6, CLT-UFA, February 20, 1998,
Suez Lyonnaise des Eaux, M6 and CLT-UFA signed on February 20 1998 a contract by which Suez Lyonnaise des Eaux and M6 purchase 15% and 5% respectively of the 20% stake held by CLT-UFA in TPS.
Gérard Méstrallet, CEO of Suez Lyonnaise des Eaux, stated "Communications is one of our four core businesses that we have identified for growth. This transaction is a strategic step to increase our participation in digital pay TV satellite broadcasting."
Upon completion, Suez Lyonnaise des Eaux and M6 will each hold 25% of TPS's outstanding capital.
At 31st December 1997, TPS was valued at FRF 3,6 billion equal to a value of 10,000 per subscriber.
The sale price, which takes into account TPS's financial debt and minority's discount, amounts to FRF 395 million for the acquired 20%.