Vivendi: group now holds 57.35% of Lagardère (47.33% of theoretical voting rights)

Vivendi (parent company of the pay and free-TV group Canal+) now owns 57.35% of Lagardère group following the final outcome of its public tender offer, announced the French media and entertainment group on 14/06/2022. Vivendi held 55.43% at the end of the first phase of its PTO on 20/05/2022.

This acquisition follows the closing of the second phase of the PTO for the shares of Lagardère group launched from 27/05/2022 to 09/06/2022. This 57.35% of the capital represents 47.33% of Lagardère's theoretical voting rights. However, this stake only gives Vivendi 22.5% of the voting rights pending the authorisation of the takeover of Lagardère by the European Commission.

A "subsidiary leg" of the offer is open until 15/12/2023. The price of the shares is set at €24.1 instead of €25 in the first two phases of the PTO.

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