Global sports and media analytics company, Nielsen, has confirmed it has been acquired by a private equity consortium, led by Evergreen Coast Capital Corporation and Brookfield Business Partners L.P., for US$16 billion (AUD$21 billion).

Shareholders in the company will be set to receive US$28 per share in the all-cash transaction which is set to include the assumption of Nielsen’s debt.

The Nielsen board of directors voted unanimously to approve the acquisition proposal, following what has been called a comprehensive review of the proposal, meaning the organisation has entered a definitive agreement to be acquired by the investment group.

The consortium of private equity groups has also secured fully committed debt and equity financing, including an approximate US$5.7 billion equity commitment, with no financing conditions to the closing of the transaction, which is expected to close in the second half of 2022.

Discussing the acquisition, Nielsen chairperson, James Attwood, said: “After a thorough assessment, the board determined that this transaction represents an attractive outcome for our shareholders by providing a cash takeout at a substantial premium, while supporting Nielsen’s commitment to our clients, employees, and stakeholders.”

“The consortium sees the full potential of Nielsen’s leadership position in the media industry and the unique value we deliver for our clients worldwide,” Attwood said.

Brookfield Business Partners managing director, Dave Gregory, said the increased investment will help Nielsen extend its progress in the global market.

“Nielsen is deeply embedded in the media ecosystem and a trusted service provider to its customers,” Gregory said.

“As a private company, Nielsen will be even better positioned to deliver the best measures of consumers’ rapidly changing behaviours across all channels and platforms.

“We are pleased to invest in this iconic company and help lead the industry into the next generation of audience measurement,” he said.

The transaction will be subject to UK court approval pursuant to a scheme of arrangement, as well as approval by Nielsen shareholders, regulatory approvals, consultation with the works council, and other customary closing conditions.