October 16, 2021

Pjnews

Today's News Headlines, Breaking News & Latest News from India and World, News from Politics, Sports, Business, Arts and Entertainment

Vivendi will be the top shareholder in Lagarde; Plan takeover bid

2 min read

Vivendi, the parent company of Canal Plus and Universal Music Group (UMG), plans to acquire an additional 17.93% stake in Lagarde, a French media, publishing and travel retailer from its top shareholder Amber Capital.

Vivendi is set to be listed on the Amsterdam Stock Exchange on September 21 as its biggest money-making asset and UMG, the world’s largest music company.

Vivendi first entered LaGuardia’s capital with 10. %% shares in April 2020, when company president Arnold LaGuardia, who inherited a prominent banner from his father Jean-Luc LaGuardia, clashed with Amber Capital and threatened to remove him. Is.

With a partnership with Amber Capital, Vivendi Lagarde will own .15.1% of the share capital and 36.1% of the franchise. Amber Capital has accepted an offer to pay 24.10 ($ 28.3) per share for its 25,305,448 shares.

If approved by the regulatory authority, the transaction would place Vivendi above 30% of the share capital and above the voting rights in Lagarde. For example, Vivendi has to bid a takeover at the same price for the rest of Lagarde. Other shareholders in Lagardere include Qatar Holdings and Financière Agache, holding LVMH President Bernard Arnault. News of the pending deal raised Lagardere’s share price by 20%.

Vivendi, led by French tycoon Vincent Bolori, said that if the transaction was not approved by the European Commission and the French Broadcasting Authority (CSA) by December 15, 2022, the acquisition would have to be completed at the same time as the third-party price. ”

The banner includes magazines such as the French radio station Europe 1, the Journal du Dimanche, the Paris Match and the leading publishing house Hatchet. In 2020, Lagardère’s annual revenue will reach 4 .4 billion.

Media One was recently acquired by Lagarde Studios, a production and distribution banner group of two companies, including Boomerang, Spain.

Earlier this year, Vivendi also finalized the acquisition of Prisma Media, a leading publishing group in France whose most well-known magazine brands include Femme Actual, Geo, as well as Capital, Gala and Tela-Loisiers.

Leave a Reply

Your email address will not be published. Required fields are marked *