News Corp., Permira funds take NDS Group private

By Lisa Kerner

Charlotte, N.C., Feb. 5 - NDS Group Ltd. completed its going-private transaction with News Corp. and two subsidiaries of funds advised by Permira Advisers LLP, it was announced on Thursday.

The companies' scheme of arrangement called for approximately 67% of the NDS series B ordinary shares held by News Corp. to be cancelled in exchange for $63 per share in a mix of cash of approximately $1.52 billion and a $242 million vendor note, it was previously reported.

Included in the arrangement are shares represented by American Depositary Shares traded on Nasdaq.

The last trading day for the ADSs was Wednesday.

News Corp. now owns approximately 49% and Permira Newcos owns approximately 51% of NDS.

NDS was advised by Morgan Stanley & Co., and the independent committee of its board of directors was advised by Citigroup Global Markets Ltd.

News Corp., a New York-based media company, was advised by J.P. Morgan Securities Inc.

Permira Newcos and Permira were advised by Goldman Sachs International.

NDS Group, based in West Drayton, England, supplies open end-to-end digital technology and services to pay-television platform operators and content providers.

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