PARIS--(BUSINESS WIRE)--Regulatory News:
Despite their divergent views, and after the very poor results announced by Lagardère a few days ago, Vivendi (Paris:VIV) and Amber Capital have decided to sign a pact.
Vivendi and Amber Capital, respectively the first and second largest shareholders of Lagardère with 23.5% and 20% of the share capital, will initiate steps in this framework with Lagardère to each seek a minority Supervisory Board representation of three members for Amber Capital and one member for Vivendi.
The two companies also wanted to stabilize the Lagardère shareholding by entering today into a five-year reciprocal first offer and preemption rights agreement on their Lagardère shares.
The text of the agreement was sent to the Autorité des Marchés Financiers (AMF), the French financial markets authority, which will ensure the required publicity according to the regulations.
Since 2014, Vivendi has been focused on building a world-class content, media and communications group with European roots. In content creation, Vivendi owns powerful, complementary assets in music (Universal Music Group), movies and series (Canal+ Group), publishing (Editis) and games (Gameloft) which are the most popular forms of entertainment content in the world today. In the distribution market, Vivendi has acquired the Dailymotion platform and repositioned it to create a new digital showcase for its content. The Group has also joined forces with several telecom operators and platforms to maximize the reach of its distribution networks. In communications, through Havas. the Group possesses unique creative expertise in promoting free content and producing short formats, which are increasingly viewed on mobile devices. In addition, through Vivendi Village, the Group explores new forms of business in live entertainment, franchises and ticketing that are complementary to its core activities. Vivendi’s various businesses cohesively work together as an integrated industrial group to create greater value. www.vivendi.com