By Mikolo Ilas
Scripps Networks Interactive Inc. on Sept. 28 completed its acquisition of the remaining stake in Polish broadcaster TVN SA for 20 Polish zlotys ($5.29) per share, or about 84 million Polish zloty ($22.2 million) in the aggregate.
In accordance with Polish law, a five-day squeeze-out subscription period related to the transaction commenced Sept. 23 and ended Sept. 28, the company said in a Sept. 30 Form 8-K filing.
As a result of the completion of the squeeze-out, Scripps Networks owns 100% of the issued share capital of TVN.
On Sept. 29, TVN's shareholders adopted a resolution to delist the Polish company's shares from the Warsaw Stock Exchange. Accordingly, TVN filed with the Polish Financial Supervision Authority and WSE the documentation required under Polish law to effect the delisting of the TVN shares from WSE.