Highlight Communications Tenders Share Buyout of Germany's Constantin Medien
The Swiss group and Studhalter Investment have secured a majority stake in Constantin thorugh a buyout offer to shareholders.
Swiss group Highlight Communications, together with Studhalter Investment, has taken control of German mini-major Constantin Medien, through a buyout offer to shareholders.
Hightlight and Studhalter said Tuesday evening that their bid for an additional 38.44 percent of Constantin shares was successful. Highlight already controlled just under 30 percent of Constantin.
Under German law, the successful takeover bid will now be followed by a two-week acceptance period, which runs until midnight on Feb. 5. During this time, Constantin shareholders who have not yet accepted the takeover offer have the opportunity to tender their shares.
Highlight has already secured regulatory approval for the deal, which will be given the official signoff at Constantin's next annual shareholder meeting. Hightlight already controls production group Constantin Film, producer of the Resident Evil franchise.