| Target: | EXPAND SA | SIC Codes: | 7812 7819 7822 0 0 |
| Country: | France | Industrial Sectors: | Media (TV Production) |
| Activities: | TELEVISION PRODUCTION & FILM LIBRARY EXPLOITATION | ||
| Bidder: | VIVENDI UNIVERSAL SA | ||
| Country: | France | SIC Codes: | 7810 2700 3650 4810 0 |
| Activities: | UTILITIES/TELECOMMUNICATIONS/PUBLISHING/CONSTRUCTION/PROPERTY | ||
| Bidding Subsidiary: | STUDIOCANAL SA | ||
| Country: | France | SIC Codes: | 7812 7819 7822 0 0 |
| Activities: | FILM/TV PROGRAMMING PRODUCTION | ||
| Date Announced: | 2001/06/15 | Date Completed: | 2001/08/13 |
| Deal Status: | Completed | Deal Type: | Pub. mand. |
| Deal Attitude: | Friendly | Cross Border: | Yes |
| % Capital Owned: | 32 | % Capital Bid For: | 68 |
| Competitive Status: | Single bidder | ||
| Regulatory Referral: | No referral | ||
| Consideration Type: | Cash | ||
| Deal Value (m) | Rate to STG 1.580 | Target Financials (m) | Rate to STG 10.360 | ||
| 1) EUR | 2) STG | 1) FFR | 2) STG | ||
| Ordinary Offer Value | 332.962 | 210.735 | Sales | 1248.854 | 120.546 |
| Other Equity Value | 0.000 | 0.000 | Depreciation/Amortisation | 634.318 | 61.228 |
| Total Equity Value | 332.962 | 210.735 | Operating Profit | 40.036 | 3.864 |
| Net Debt | 18.367 | 11.625 | NPBT | 29.559 | 2.853 |
| Minorities | 3.96 | 2.506 | NPAT | 21.371 | 2.063 |
| Firm Value | 342.639 | 216.860 | Net Income | 8.011 | 0.773 |
| Shareholders Funds | 455.838 | 44.000 | |||
| Price Ratios | Firm Value Ratios | ||||
| Price/Sales | 1.68 | Firm Value/Sales | 1.8 | ||
| Price/NPAT | 98.28 | Firm Value/EBITDA | 3.33 | ||
| Price/Book | 4.61 | Firm Value/EBIT | 56.12 | ||
| Accounts Source: | EXPAND OFFER DOCUMENT | Reliability: | Audited |
| Deal Value Source: | BIDDER PRESS RELEASE (18/06/2001) | Reliability: | Accurate |