Newspaper & Mailroom
News Corporation Completes Transaction to Acquire Shine Group
Wednesday 06. April 2011 - News Corporation today announced it has completed the acquisition of 100 percent of Shine Group, for which the Shine Group shareholders received approximately £290 million in aggregate proceeds.
The transaction was approved by the Audit Committee of the News Corporation Board of Directors. The Audit Committee, which is composed entirely of independent directors, received advice and a fairness opinion from Centerview Partners, an independent investment bank, and legal advice from Wachtell, Lipton, Rosen & Katz.
News Corporation was advised by Hogan Lovells. J.P. Morgan acted as exclusive financial advisor to Shine Group, with legal advice from Olswang LLP in the U.K. and OMelveny & Myers LLP in the U.S.