Dividend recap
Astorg ups stake in pay-TV company M7
Minority shareholders, Providence and Airbridge, exit Luxembourg-headquartered company after €175 million dividend payment
French private equity firm Astorg has increased its stake in Luxembourg-headquartered pay-TV provider M7 Group, after a dividend recapitalisation led to the exit of minority shareholders.
M7, based in Kirchberg, completed a €570 million refinancing of its debt in December, which partly financed a €175 million dividend payout and the exit of minority shareholders Providence Equity and Airbridge Investments, a source close to the deal said.
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