NDS Group, News Corporation and Permira Advisers have completed a scheme of arrangement, under which two subsidiaries of funds advised by Permira and News Corporation will own 51 per ce
NDS Group, News Corporation and Permira Advisers have completed a scheme of arrangement, under which two subsidiaries of funds advised by Permira and News Corporation will own 51 per cent and 49 per cent respectively of UK-listed digital technology firm NDS.
The News Corporation and Permira holdings are subject to dilution by shares to be subscribed for by members of management and shares to be issued as part of the option scheme to be established by NDS.
The price being paid is USD63 per share and values NDS at USD3.6bn
The independent committee of the board of directors of NDS was advised by Citigroup Global Markets and Weil, Gotshal & Manges.
NDS was advised by Morgan Stanley and Allen & Overy.
News Corporation was advised by J.P. Morgan Securities, Skadden, Arps, Slate, Meagher & Flom and Hogan & Hartson.
The Permira fund subsidiaries and Permira were advised by Goldman Sachs International, Clifford Chance and Fried, Frank, Harris, Shriver & Jacobson.
NDS provides access control and security technology as well as interactive applications for delivering digital content to a range of devices, including TVs, set-top boxes, digital video recorders, PCs, mobile phones and portable media players.
