Setanta/NASN

Proposal whereby Setanta Media Holdings Limited (Setanta) would acquire approximately 75 per cent of the issued share capital of NASN Limited (NASN). On the same day, the Authority was notified of the related transaction, whereby it is proposed that Benchmark Europe II, L.P., would acquire approximately 48.25% of NASN Limited from Setanta. It is intended that the second transaction will be completed on the same day as completion of the first transaction. The Authority advised the Minister and the parties that it considers the transactions to be media mergers.