Vivendi to Acquire Amber Capital's 17.5% Stake in Lagardere
December 09 2021 - 2:08AM
Dow Jones News
By Ed Frankl
Vivendi SE said Thursday that it will acquire activist investor
Amber Capital's stake in Lagardere SA in the coming days.
The French media conglomerate will acquire Amber's 17.5% holding
in Lagardere at a price of 24.10 euros ($27.34) a share, having
agreed the offer in September.
The transaction is due to take place by Dec. 15, with Vivendi
holding 45.1% of Lagardere's capital at its close.
The move paves the way for Vivendi to pursue a full takeover of
Lagardere, which the company intends to file with French market
authorities by February 2022.
France's markets regulator obliges companies exceeding a 30%
threshold in another listed company to submit a tender offer for
all remaining shares, although exemptions are possible.
Vivendi will propose a tender offer for all Lagardere shares at
EUR24.10 a share, the same price per share it paid to Amber
Capital, the company said.
Vivendi doesn't intend to implement a mandatory squeeze-out of
Lagardere following its offer, it said.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
December 09, 2021 02:53 ET (07:53 GMT)
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