Lagardère agrees to dispose of its 20% stake in Canal+ France to Vivendi for €1.02B, ends disputes between groups
October 28, 2013
– The Vivendi and Lagardère Groups welcome the successful outcome of the mediation led by René Ricol under the authority of the Paris Tribunal de Commerce (commercial court) and the terms agreed concerning the disposal by Lagardère Group of its 20% stake in Canal+ France for €1.020 billion in cash.
This agreement, which will be submitted for information to the appropriate works councils, puts an end to all disputes between the two groups related to this participation.
Vivendi wishes to thank Lagardère Group for successfully supporting the development of Canalsatellite and Canal+ France over the past ten years.
The Lagardère and Canal+ Groups will continue to pursue their cooperation in program production and the publishing and distribution of television channels.
Vivendi groups together leaders in content and media. Canal+ Group is the French leader in pay-TV, also operating in French-speaking Africa, Poland and Vietnam; its subsidiary StudioCanal is a leading European player in production, acquisition, distribution and international film sales. Universal Music Group is the world leader in music; it recently strengthened and diversified its position with the acquisition of EMI Recorded Music.
In telecommunications, Vivendi owns GVT, the leading alternative broadband operator in Brazil, and SFR, a French leader in telecoms.
Lagardère is a pure media group (Book and e-Publishing; Press, Audiovisual, Digital and Advertising Sales Brokerage; Travel Retail and Distribution; Sports and Entertainment) and is among the world leaders in the sector.
Lagardère shares are listed on Euronext Paris.