Vivendi: Update on the Study of the Split Project
Vivendi’s (Paris:VIV) Management Board presented today to the Supervisory Board an update on the feasibility study of the split project announced on
Since the distribution and listing of Universal Music Group in 2021,
In order to fully unleash the development potential of all its activities, the Management Board of
The Management Board today proposed to the Supervisory Board – which gave its approval on the matter – to structure the split around four entities:
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Canal+
Canal+ Group has experienced significant growth in recent years, reaching a subscriber base of over 25 million in nearly 50 countries. Following the acquisitions of M7 and SPI, the company has taken strategic stakes in businesses such as MultiChoice, Viu and Viaplay, demonstrating its ability to identify and seize promising opportunities across all its geographical areas. In light of these successes, Canal+ is well-positioned to capitalize on further consolidation opportunities on a global scale. -
Havas
As one of the global leaders in communications, Havas brings together over 23,000 employees spread across more than 100 countries. The group has maintained a steady pace of targeted acquisitions over the past two years, thereby strengthening its range of expertise and geographic footprint. Havas has also launched numerous innovative solutions to meet the needs of its clients. The impressive momentum demonstrated by Havas on a global scale paves the way for an accelerated development and the continuation of its successful transformation. -
A company grouping the assets in publishing and distribution
This newly created entity would group Vivendi’s majority stake in Lagardère and wholly ownedPrisma Media . Lagardère is a worldwide group present in more than 40 countries with over 27,000 employees. It is the third largest book publisher for the general public and educational markets and a global leader in Travel Retail. It also includes press and live entertainment activities.Prisma Media is the leader of magazine publications and online media inFrance with a portfolio of some 30 brands. This entity would foster collaboration between the different activities related to publishing in its broadest sense. -
An investment company
This investment company would own listed and unlisted financial stakes in the cultural, media and entertainment sectors. It would actively support the strategic development of its portfolio companies and would focus on value creation and capital return to its shareholders, through an effective portfolio rotation and a targeted reinvestment policy.
This split project would provide each of the four listed companies with the human resources and the financial agility necessary for their development.
This project will have to prove its added value for all stakeholders and include an analysis of the tax consequences of the various contemplated operations.
A new update on the study of the split project will be presented to the Supervisory Board meeting convened on
Several other important steps should be taken. These include, amongst others, the consultation of the employee representative bodies of the concerned entities, before which no decision in principle will be taken, the necessary regulatory approvals, the approvals required from the bond holders and the other Group’s creditors as well as, in due time, the consent of the
Important disclaimers
This press release contains information that may have characterized, before becoming public, inside information as defined by Article 7, par. 1, of the European Regulation 596/2014. It also 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 such as the split and listing projects, as well as related operations. Although
Unsponsored ADRs.
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