NDS Shareholders Approve Proposed Transaction to Take NDS Private
Jan 15, 2009 9:37 AM
New York and London - Jan 14, 2009 - At shareholder meetings, the shareholders of NDS approved the arrangement for all the issued and outstanding NDS shares to be purchased. News Corporation currently owns 67 percent of the B shares. Additional NDS B ordinary shares will then be issued to two newly incorporated subsidiaries of funds advised by Permira Advisers, which are referred to as the Newcos. If the proposed transaction is consummated, News Corporation and the Newcos would own approximately 49 percent and 51 percent of NDS respectively.
Completion of the transaction remains subject to the satisfaction or waiver of certain conditions, including the sanction of the arrangement by the court.
NDS is the technology developer of conditional access systems for radio and TV.