The new owners of Dutch entertainment giant Endemol plan to delist the “Big Brother” creator from Amsterdam’s Euronext exchange.
The Edam Acquisition group, led by Italian media mogul Silvio Berlusconi’s Mediaset, said Monday that 99.54% of Endemol’s share capital had been offered to it since it made a public offer for the company last month.
In July, the group bought a 75% stake in Endemol from Spanish telco Telefonica for e2.63 billion ($3.61 billion) and a 6% stake from Cyrte, an investment fund run by Endemol co-founder John de Mol.
At the time, it made a public offer of $33.79 per Endemol share for all of the issued and outstanding shares, which closed Friday. Edam, which also includes De Mol and Goldman Sachs’ investment funds, will begin a “squeeze-out procedure” for remaining shares to be tendered by Aug. 22.