Commercial television provider Ten Network Holdings Ltd
(ASX:TEN) says major shareholder Canwest Global Communications Corp has completed the sell-down of its 50.06 per cent interest in Ten.
Ten says Macquarie Capital Advisers underwrote and managed the sale to a broad range of institutional and sophisticated investors at a $1.30 a share.
This represents a discount of 5 per cent to the closing price of Ten shares before it went into a halt on September 24 of $1.365.
Settlement of the transactions is expected to occur on October 1.
Ten shares which have been in a trading halt while the sell-down of Canwest’s stake took place, will resume trading today.
Ten Network Holdings profit highlight in the last five years was $273.4 million in 2008.
