Vivendi take 20% of Canal+ France in buyout of Lagardère for €1.02 billion

The French telecoms and media group Vivendi has become 100% owner of Canal+ France, the owner of the pay-TV channel Canal+, following the acquisition of 20% of shares held by the Lagardère media group, on the 28/10/2013.

The amount of the transaction was €1.02 billion, Vivendi and Lagardère indicated in a joint statement. "The agreement, which will be subject to employee representative bodies, also ends all litigation between the two groups related to this transaction", said the text. The two companies have reached an agreement after six months of mediation led by former credit mediator René Ricol, under the authority of the Commercial Court of Paris.

After the acquisition of the entire share capital of Canal+, Vivendi plan to split the business in two, as they have wanted to do since 2012. One of its branches will be "an international media group based in France" which will chiefly bring together Universal Music and Canal+, said the newspaper Le Monde, on the 28/10/2013. The other would consolidate its telecommunications assets, including the operator SFR.

• Lagardère is currently…