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Vivendi Enters Into Exclusive Negotiations With the IMI Group, a CMI Subsidiary, for the Sale of 100 % of the Shares of Editis
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Vivendi announced it has received several offers for the sale of 100% of Editis shares following a Supervisory Board meeting held on March 8, 2023. The Management Board chose to enter exclusive negotiations with International Media Invest a.s, a subsidiary of Czech Media Invest, which will require European Commission approval. Consequently, plans to distribute Editis shares to Vivendi shareholders and list them on the Euronext Growth market are currently on hold. Vivendi is focused on building a world-class content, media, and communications group, with various complementary assets in multiple sectors.
Positive
Entering exclusive negotiations with International Media Invest may lead to a beneficial deal for Vivendi.
Potential sale of Editis could unlock value for shareholders.
Negative
Plans to distribute Editis shares to shareholders are on hold, delaying potential returns.
Transaction subject to regulatory approvals risks uncertainty and delays.
PARIS--(BUSINESS WIRE)--
Regulatory News:
Following the Supervisory Board meeting held on March 8, 2023, Vivendi (Paris:VIV) today announces that it has received several offers for the sale of 100% of the shares of Editis.
After reviewing these offers, Vivendi’s Management Board decided to enter into exclusive negotiations with International Media Invest a.s (IMI), a subsidiary of Czech Media Invest founded by Daniel Kretinsky. This contemplated transaction would require the authorization of the European Commission. It would also be subject to the information and consultation procedure involving the relevant employee representative bodies.
In this context, the plan to distribute the Editis shares to the Vivendi shareholders, and their listing on the Euronext Growth market, is put on hold.
About Vivendi Since 2014, Vivendi has been building a world-class content, media and communications group. The group owns leading, highly complementary assets in television and movies (Canal+ Group), communications (Havas), publishing (Editis), magazines (Prisma Media), video games (Gameloft) and live entertainment and ticketing (Vivendi Village). It also owns a global digital content distribution platform (Dailymotion). Vivendi’s various businesses cohesively work together as an integrated industrial group to create greater value. Vivendi is committed to the environment and aims to contribute to a carbon-neutral world by adopting an approach aligned with the 2015 Paris Agreements.In addition, the group is helping to build more open, inclusive and responsible societies by supporting diverse and inventive creative works, promoting broader access to culture, education and its businesses, and increasing awareness of 21st-century challenges and opportunities. www.vivendi.com.
Important Disclaimers
Cautionary Note Regarding Forward-Looking Statements. This press release contains forward-looking statements with respect to Vivendi’s financial condition, results of operations, business, strategy, plans and outlook, including the impact of certain transactions and the payment of dividends and distributions, as well as share repurchases. Although Vivendi believes that such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside our control, including, but not limited to, the risks related to antitrust and other regulatory approvals as well as any other approvals which may be required in connection with certain transactions and the risks described in the documents of the group filed by Vivendi with the Autorité des Marchés Financiers (the French securities regulator), which are also available in English on Vivendi's website (www.vivendi.com). Investors and security holders may obtain a free copy of documents filed by Vivendi with the Autorité des Marchés Financiers at www.amf-france.org, or directly from Vivendi. Accordingly, we caution readers against relying on such forward-looking statements. These forward-looking statements are made as of the date of this press release. Vivendi disclaims any intention or obligation to provide, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Unsponsored ADRs. Vivendi does not sponsor an American Depositary Receipt (ADR) facility in respect of its shares. Any ADR facility currently in existence is “unsponsored” and has no ties whatsoever to Vivendi. Vivendi disclaims any liability in respect of any such facility.
