Alantra advised VP Exploitatie on the recommended cash offer by Mediahuis and VP Exploitatie for Telegraaf Media Group



Jul 2017
Buy-side advisory

On 5 March 2017, a consortium consisting of Mediahuis and VP Exploitatie (“the Consortium”), announced that it has reached a conditional agreement in connection with the public offer by Mediahuis and VP Exploitatie for all issued and outstanding shares in the capital of Telegraaf Media Group (“TMG”) and the depositary receipts at an offer price of €6.00 (cum dividend) in cash for each TMG share. The Offer Price represents a premium of 72% over the closing price of the day prior to the announcement of Mediahuis and VP Exploitatie of the intention to launch a public offer on 14 December 2016. The public offer values the shares of the company at €278m. The combination of TMG and Mediahuis creates a leading Dutch-Belgian multimedia group with a sustainable future and a focus on long-term value creation. The joining of forces will result in a significant increase of future commercial and financial strengths that is crucial to remain competitive in a changing and continuously evolving media landscape with numerous new international and digital players. The transaction is currently pending. The Consortium will submit a request for approval of its offer memorandum to the AFM no later than on 8 March 2017 and publish the offer memorandum shortly after approval, in accordance with the applicable statutory timeline. Alantra advises VP Exploitatie on the structuring and negotiation related to the formation of the consortium with Mediahuis and the subsequent public offer for TMG by the Consortium. VP Exploitatie is an independent Dutch investment- and management company owned by the Van Puijenbroek family. The company invests in securities, participations, real estate and other assets. The strategy of VP Exploitatie is focused on investments in Dutch and Belgium companies. VP Exploitatie has as a relevant shareholder, a focus on long-term value creation. VP Exploitatie limits oneself in its investment policy not solely to enterprises in specific sectors.

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