European antitrust regulators have given the green light to News Corporation and Permira Advisers LLP taking NDS Group private. NDS supplies open end-to-end digital technology and services to digital pay-television platform operators and content providers. Permira will end up owning 51% and News Corp. 49%.
The buyout announced in August will have shareholders paid $63 per share. A big chunk of that will actually go to News Corp., which is reducing its equity stake from 72% to 49%. The media giant stands to get $1.52 billion in cash and a $242 million vendor note, but still retain a substantial minority interest.
Shareholders of NDS Group are scheduled to vote January 13th on the buyout. Assuming approval, the deal is expected to close in early February.