Australian private-equity investment firm Castle Harlan Australian Mezzanine Partners (CHAMP) has completed the acquisition of a majority interest in Austar United Communications [Sydney: AUN.AX], in line with a plan announced last December. CHAMP also said it will initiate an offer to acquire all remaining publicly held Austar shares in early May.

Austar is the only provider of satellite pay TV in non-urban eastern Australia and the second largest provider in all of Australia, with more than 400,000 subscribers. Austar has exclusive pay television rights in all but the major Australian cities and the sparsely settled state of Western Australia.