NDS Sees A Change In Owners
By Staff Writer | June 30, 2008
[Satellite Today – 6-30-08] Under a proposed transaction News Corp. will no longer be the majority shareholder of NDS Group, News Corp. announced June 27.
News Corp. and a pair of newly incorporated companies formed by funds advised by Permira Advisers LLP have proposed a transaction that would result in NDS ceasing to be a public company, with the Permira entities assuming 51 percent ownership of the conditional access and middleware supplier. News Corp. would retain 49 percent of NDS.
Permira has completed its due diligence and all of the third party financing is in place. The equity financing for the transaction will be provided by funds advised by Permira and the debt financing will be provided by JP Morgan and Morgan Stanley.