Slaughter and May advises ITV - acquisition of Talpa for initial cash consideration of approximately £355 million
Slaughter and May, working as a team with De Brauw Blackstone Westbroek, is advising ITV plc (ITV) on its acquisition of Talpa Media B.V. (Talpa), a fast growing Netherlands based production and distribution company. The joint Slaughter and May and De Brauw Blackstone Westbroek team is led by ITV's in-house legal and commercial teams.
ITV announced on 12 March 2015 that it had entered into an agreement with Talpa Holding N.V to acquire 100% of Talpa's fully diluted share capital for an initial cash consideration of approximately £355 million. ITV will make further payments dependent on Talpa's future performance. The acquisition represents a total maximum consideration, including the initial payment, of approximately £781 million, and significantly strengthens ITV's position as a leading producer in Europe. The transaction is expected to close during the second quarter of 2015, subject to regulatory approval.
Since 2009, Talpa has created 75 shows airing in more than 180 countries, including the award winning talent competition The Voice. It was established in 2006 by Big Brother producer John de Mol, who will remain with the business following completion of the acquisition.
ITV's in-house legal and commercial teams are led by Andrew Garard (Group Legal Director and Company Secretary) and Tom Betts (Commercial and Acquisitions Director).