Wednesday 21 August 2019

Date set for court hearing on INM takeover

INM’s headquarters in Dublin’s Talbot Street
INM’s headquarters in Dublin’s Talbot Street
Ellie Donnelly

Ellie Donnelly

A court hearing date on the proposed takeover of Independent News & Media (INM) by Belgium-headquartered Mediahuis has been set.

The hearing, where the sanction of the High Court for an intended scheme of arrangement to effect the deal will be sought, has been set for 30 July.

The deal also remains subject of the approval of Richard Bruton as Minister for Communications, Climate Action and Environment.

Last month the €145.6m acquisition was approved unconditionally by the Competition and Consumer Protection Commission (CCPC).

Mediahuis announced its bid to buy INM at the end of April and the sale is expected to close in the second half of this year. The INM board unanimously recommended the offer.

Shareholders approved the sale at an EGM on June 26.

INM publishes the Irish Independent, Independent.ie, the 'Sunday Independent', 'Sunday World', 'The Herald', 'Belfast Telegraph' and is also Ireland's biggest publisher of regional newspapers.

Mediahuis publishes major newspaper titles, including 'De Telegraaf' and 'NRC Handelsblad' in the Netherlands and 'De Standaard' and 'Het Nieuwsblad' in Belgium.

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