RTL Group today confirms that it has closed the transaction to sell its US ad-tech company SpotX to Magnite, the world’s largest independent sell-side advertising platform.
Since the announcement of the transaction on 5 February 2021, RTL Group exercised an option to increase the cash component of the transaction and received US-$640 million (€528 million1) in cash and 12.37 million shares of Magnite stock. Based on the closing price of Magnite stock as at 29 April 2021, the agreement implies an enterprise value (100 per cent) for SpotX of US-$1.14 billion (€942 million1).
As previously stated, RTL Group’s shareholders will benefit from the cash proceeds in line with the Group’s dividend policy.
1 Based on the €/US-$ exchange rate at 29 April 2021