Vivendi’s Proposed Transaction With Lagardère Group Has Been Notified to the European Commission
Vivendi’s Proposed Transaction With Lagardère Group Has Been Notified to the European Commission
PARIS--(BUSINESS WIRE)--Regulatory News:
Vivendi (Paris:VIV) today announced that its notification file on the Lagardère group proposed transaction was declared complete and that, as a result, it has formally filed its notification with the European Commission pursuant to the European Merger Control Regulation.
Vivendi continues to study the proposed divestment of 100% of its subsidiary Editis, which would be primarily carried out by distributing Editis shares to Vivendi’s shareholders and simultaneously having the shares admitted to trading on the Euronext Paris stock exchange. The Bolloré group, Vivendi’s principal shareholder, is expected to sell all the Editis shares it would receive in the distribution so that Editis would have a stable core shareholder base.
In order for such a plan to be implemented, it would need in particular to be authorized by the European Commission. It would also be subject to the information and consultation procedure involving the relevant employee representative bodies.
Arnaud de Puyfontaine, Chairman of Vivendi’s Management Board and its Chief Executive Officer, said: “The notification to the European Commission of our plan to acquire Lagardère is a major step forward in our objective to create a world-class publishing leader. At the same time, we want to ensure the continuity and integrity of Editis while safeguarding the competitive balance of the French publishing market.”
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 Group), 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 has set the goal of contributing to global net zero carbon 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 increasing awareness of 21st-century challenges and opportunities. www.vivendi.com.
Important Disclaimers
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.
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