Vivendi Holds 57.35% of the Lagardère Group Share Capital Following Its Friendly Public Tender Offer

Rhea-AI Summary

Vivendi has completed its public tender offer for Lagardère shares, acquiring 80,943,768 shares, representing 57.35% of the capital. This offer, which ran from May 27 to June 9, 2022, follows an initial filing on February 21. Vivendi currently holds 22.45% of voting rights, pending regulatory approval. Additionally, 20,245,979 shares were submitted, leading to a total of 31,184,281 shares involved in the tender. The shares come with transfer rights exercisable at €24.10 until December 15, 2023. The settlement will occur on June 24, 2022.

Positive

• Vivendi now holds 57.35% of Lagardère capital, enhancing its influence.
• The acquisition aligns with Vivendi's strategy to strengthen its position in media and content industries.

Negative

• Vivendi only holds 22.45% of Lagardère's voting rights pending competition authority approval.

PARIS--(BUSINESS WIRE)-- Regulatory News:

At the end of the reopening of the public tender offer for the shares of the Lagardère group, which took place from May 27 to June 9, 2022, Vivendi (Paris:VIV) holds 80,943,768 Lagardère shares, representing the same number of voting rights, or 57.35% of the capital and 47.33% of the theoretical voting rights¹ of Lagardère.

This final result, which concludes the friendly public tender offer filed last February 21, gives Vivendi only 22.45% of the voting rights¹ pending approval of the takeover of Lagardère by the competition authorities.

In addition, 20,245,979 shares have been presented to the subsidiary leg of the public tender offer during its reopening, bringing their number to 31,184,281 shares for the totality of the tender offer. The holders of such shares will receive an equal number of transfer rights to be exercised at a price of €24.10 until December 15, 2023.

The settlement-delivery for the reopening of the public offering will take place on June 24, 2022, and the allocation of the transfer rights related to the shares presented to the subsidiary leg during the reopening period will start the same day.

Vivendi's strategy is to build a global leader in the media, content and communications sectors. The partnership with Arnaud Lagardère, Chairman and Chief Executive Officer of Lagardère, and with his group plays a full part in this strategy, as it will enable Vivendi (subject to the authorization of the European Commission) to:

• consolidate strong industrial ambitions through significant investments notably in quality content in France and abroad;
• seize opportunities for external growth in sectors where Lagardère operates and thus contribute to greater cultural influence.

Arnaud Lagardère and Vivendi have expressed their desire to preserve the integrity of the Lagardère group and to give it the means to develop.

About Vivendi

Since 2014, Vivendi has built a world-class content, media and communications group. The Group owns leading, strongly complementary assets in television and movies (Canal+ Group), communications (Havas Group), publishing (Editis), magazines (Prisma Media), video games (Gameloft), 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 has set the goal of contributing to net zero carbon worldwide by adopting an approach in line with the 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 by increasing awareness of 21^st-century challenges and opportunities. www.vivendi.com.

¹Based on the number of theoretical voting rights as of May 31, 2022, published by Lagardère.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220614005622/en/

Vivendi

Source: Vivendi

FAQ

What percentage of Lagardère does Vivendi currently own?

Vivendi currently owns 57.35% of Lagardère's capital.

When was the public tender offer for Lagardère shares held?

The public tender offer for Lagardère shares was held from May 27 to June 9, 2022.

What rights are associated with the shares acquired by Vivendi?

Holders of the shares will receive transfer rights exercisable at €24.10 until December 15, 2023.

What is Vivendi's strategy regarding Lagardère?

Vivendi aims to consolidate its industrial ambitions and expand through Lagardère's investments in quality content.

When will the settlement-delivery for the tender offer take place?

The settlement-delivery for the tender offer will occur on June 24, 2022.