Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group, Thomas H Lee Partners and Saban Capital Group have signed a definitive agreement under which the group will acquire Univision, a US Spanish-language media company, for $36.25 per share in cash. The transaction is valued at approximately $13.7bn, including the assumption of $1.4bn in debt.
Univision’s assets include the Univision Network, its sister broadcast network TeleFutura and its cable network Galavision.
The merger agreement has been approved by the board of directors of Univision and is not contingent on financing. The transaction is subject to the approval of Univision shareholders, regulatory approvals and customary closing conditions, and is expected to close in the Spring of 2007.
Univision Communications is headquartered in Los Angeles with television network operations in Miami and television and radio stations and sales offices in major cities throughout the United States.
Chicago-based Madison Dearborn Partners has $14bn of equity capital under management and makes new investments through its most recent fund, Madison Dearborn Capital Partners V, a $6.5bn investment fund raised in 2006.
Providence Equity is headquartered in Providence, Rhode Island and also has offices in New York and London. The principals of Providence Equity manage funds with $9bn in equity commitments.
Texas Pacific Group is based in San Francisco, London and Fort Worth, Texas, is a private investment partnership managing $30bn in assets.
Thomas H Lee Partners has invested $10bn of equity in 100 businesses, built companies, and generated returns for its investors and operating partners.
LA-based Saban Capital Group is a private investment firm specialising in the media and entertainment industries. SCG was established in 2001 by Haim Saban, founder of Saban Entertainment, a global television broadcasting, production, distribution, merchandising and music company that was sold to the Walt Disney Corporation in 2001 in a $5.2bn transaction.
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