2023-11-21 18:30:00
The French media giant Vivendi announced, this Tuesday, November 21, 2023, the finalization of its merger with its rival Lagardère, of which it holds “around 60%” of the capital and “can now fully exercise a little more than 50 % of voting rights”, according to a press release.
(Official) wedding day between Vivendi and Lagardère. The Bolloré family group, to which Canal+Havas and Prisma Media, announced this Tuesday, November 21, 2023, to put “fully” his hand on his rival Lagardère, of which he now holds 57.95% of the capital and 50.50% of voting rights. Consequently, several national media – such as the “Sunday Newspaper”“Paris Match” et Europe 1 – officially come under its control this Tuesday, despite the synergies already visible.
Yannick Bolloré on the board of directors of the Lagardère group in the coming days
“This is the biggest change in dimension for our group in ten years. Vivendi becomes a global leader in communications, media and entertainment“, rejoices Yannick Bolloré with “Figaro”at the forefront of family photography. According to a press releasethe chairman of the supervisory board of Vivendi will replace René Ricol in the coming days on the board of directors of the Lagardère group, where the former President of the Republic sits, Nicolas Sarkozythe chairman of the board of directors of Vivendi, Arnaud de Puyfontaine, and the administrator Virginie Banet.
In total, Vivendi goes from 38,000 employees to “around 66,000 employees present on all continents“, and its turnover would increase, on a basis comparable to that of 2022, by 72%, to amount to 16.5 billion euros. It also obtains a distribution network in train stations and airports (boutiques Relay, Duty Free stores).
“Lagardère will remain an independent and autonomous subsidiary., promises the new General Staff this Tuesday in “Le Figaro”. The two seats are intended, for the time being, to remain distinct. Vivendi also extended by eighteen months, this Monday, November 20, the deadline to acquire up to approximately 22% of the additional capital of Lagardère, through a transfer rights mechanism initiated during its takeover bid for the group in 2022.
Two compulsory transfers
The result of a standoff lasting several years with the Competition Authority, this merger was made possible following the finalization of the two transfers to which Vivendi committed to the European Commission. The group, which has just acquired Hachette Livres, sold, on Tuesday November 14, 100% of the capital of Éditis to International Media Invest (IMI) of Czech billionaire Daniel Kretinsky and, this Tuesday, the magazine “Gala”, for a long time in the hands of the Prisma Media group, to the Figaro group.
If the marriage is sealed with Lagardère, Vivendi remains under formal investigation, led by the European Commission, regarding a possible anticipated takeover of Lagardère in violation of EU rules. An infringement which, if confirmed, would not call into question the acquisition, but might cost it up to 10% of its total turnover.
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