Mergers and Acquistions News
Categories: Media & Information Services
November 28th 2008, 15:02PM
Independent TV production firm RDF Media has agreed the terms which will see it acquired by its management team and a Dutch investment firm.
It has been confirmed that the company's non-executive directors are backing the bid of 120 pence a share, which values the company at £52 million.
The move will be put to shareholders in January and the deal is expected to go through the following month.
Under the terms of the deal, half of the firm will be owned by RDF's management, while the other half would be under the control of the Dutch investment company Cyrtle.
David Frank, chief executive of RDF, said: "Cyrte's sector expertise and financial strength makes them the ideal partner to support RDF through this next stage in its evolution."
The media firm hit the headlines last year when a row erupted over documentary footage which appeared to show the Queen storming out of a photo shoot.
Shows the firm produces include Dickinson's Real Deal, Escape from Scorpion Island, Only Connect and Rosemary Shager's School for Cooks.
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