Chrysalis Group PLC
13 June 2003
FOR IMMEDIATE RELEASE 13 June 2003
CHRYSALIS GROUP PLC
Update on Discussions for the Disposal of the Group's Television Division
Following its announcement on 25 April, the Board of Chrysalis Group plc
('Chrysalis' or the 'Group') is today providing an update on progress regarding
the disposal of the Group's Television Division. As previously advised, the
Board entered exclusive discussions with an MBI Group led by Steve Morrison,
formerly Chief Executive of Granada plc.
The Board today confirms that the MBI Group's equity provider is Bridgepoint
Capital Limited ('Bridgepoint'), a leading European private equity group.
Since the earlier announcement , strong progress has been made by the MBI Group,
Bridgepoint and its debt providers. Chrysalis has today received confirmation
from Bridgepoint and the MBI Group that their due diligence is now substantially
complete. Accordingly, the Board has agreed to extend the exclusivity period for
a further four week period.
The transaction remains subject to the agreement of satisfactory final
contractual terms and will require shareholder approval. The Board will update
shareholders with further information in due course.
- ENDS -
Richard Huntingford, Chief Executive 020 7470 1057 / 07802 793 444
Harriet Finney, Investor Relations Manager 020 7465 6272 / 07811 370 957
Mark Edwards, Buchanan Communications 020 7466 5000
This information is provided by RNS
The company news service from the London Stock Exchange