Canal+ and PPF raise stakes in Viaplay after Viaplay's recapitalisation (updated)

Viaplay AB (publ)

09/02/2024 11:09

* 
      Canal Plus raises stake in Viaplay to 29.33% vs 12%
    

        * 
      Viaplay completes 4 bln Swedish crowns recapitalization
    

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      PPF also increases Viaplay stake to 29.29%
    

  
 (Adds statement from Canal Plus in paragraph 3)
       HELSINKI, Feb 9 (Reuters) - 
    Swedish streaming group Viaplay  VPLAYb.ST  has completed a
recapitalisation totalling 4 billion crowns ($381.7 million), it
said on Friday, resulting in Canal Plus and the Czech Republic's
PPF increasing their Viaplay stakes. 
    Vivendi's  VIV.PA  Canal Plus and PPF have, as a result of
the deal, raised their stakes in Viaplay to 29.33% and 29.29%,
respectively.
    "CANAL+ Group welcomes the successful completion of
Viaplay’s recapitalization. With now a sound capital structure,
a clear plan forward and a new and committed management team,
Viaplay has laid the ground for a successful turnaround," said
Canal Plus Chairman and CEO Maxime Saada.
    Under pressure to stabilise its business as rising living
costs dent consumer demand, Viaplay in December said it would
raise equity and restructure its debt, after repeatedly warning
of a weakening business environment.
($1 = 10.4797 Swedish crowns)

 (Reporting by Essi Lehto, editing by Anna Ringstrom)
 ((essi.lehto@thomsonreuters.com; +358505412375;))