Lagardère: merger deal "closed" with Vivendi, which holds around 60% of the group as of 20/11/2023

"Vivendi is pleased to announce the closing of its transaction with the Lagardère group. This operation gives it a whole new dimension by strengthening its position as a major player in the fields of culture, media and entertainment, and by becoming a global leader in publishing, travel retail and experiences. It also allows the Lagardère group to benefit from the support of a stable and long-term shareholder base to be accompanied in its development projects," announced the French media and entertainment group on 20/11/2023.

The Vivendi group currently holds "approximately 60% of Lagardère's share capital and can now fully exercise slightly over 50% of its voting rights," said the group. "With this transaction, Vivendi becomes significantly larger, with 2022 pro forma combined revenues of more than €16.5bn. The combined workforce of all the group's companies totals approximately 66,000 employees spanning across all continents," added the owner of Canal+.

"This transaction took effect following the closing of the two sales Vivendi had committed to with the European Commission, i.e…