BSkyB To Buy Sky Italia And 57.4% Stake In Sky Deutschland - Quick Facts

(RTTNews) - British Sky Broadcasting Group Plc, known as BskyB (BSYBY.PK, BSY.L) said Friday that it has entered into agreements with 21st Century Fox (FOXA, FOX) to acquire 21st Century Fox's 100% stake in Sky Italia and its 57.4% interest in Sky Deutschland (SKDTF.PK, SKDTY.PK).

The total consideration for the acquisition of Sky Italia is 2.45 billion pounds with approximately 2.07 billion pounds to be paid in cash and the balance to be satisfied through the transfer of BSkyB's 21% stake in National Geographic Channel International to 21st Century Fox at a value of 382 million pounds.

The acquisition of 21st Century Fox's shareholding in Sky Deutschland is for a consideration of 2.9 billion pounds in cash, valuing Sky Deutschland at 6.75 euros per share. The transactions are subject to regulatory and independent shareholder approval.

Following the agreement to acquire 21st Century Fox's 57.4% stake in Sky Deutschland, BSkyB has announced that it will launch a voluntary cash offer to Sky Deutschland's minority shareholders at 6.75 euros per share. There is no minimum acceptance condition as BSkyB believes it can realise the advantages of closer collaboration with Sky Deutschland and support its continued growth and development with the 57.4% stake it is acquiring through this transaction.