Vivendi signs the agreement with the Bolloré Group to purchase its majority stake in the Havas Group
June 06 2017 - 12:37PM
Business Wire
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Regulatory News:
Vivendi (Paris:VIV) announces that it today entered into the
purchase agreement with the Bolloré Group regarding the
approximately 60% majority stake Bolloré Group holds in Havas.
The execution of this agreement by Vivendi’s Management Board
follows the receipt of positive opinions from the employee
representative bodies of the companies of Vivendi, Havas and
Bolloré, and the completion of the due diligence process.
The €9.25 per share price initially indicated in the letter of
intent was confirmed. The reasonable premium over the last quoted
share price is based on several criteria: the operational
performance of the Havas Group compared to its peers in recent
financial years, the historical level of the Havas share price, the
mid-term perspectives despite the fact that, in the global
advertising sector, the year 2017 will be marked, as announced by
the Havas Group’s management, by uncertainties in organic growth
and profitability.
In accordance with applicable regulations, Vivendi will launch a
simplified tender offer on the remaining Havas shares. This offer
is not aimed at delisting Havas shares.
Arnaud de Puyfontaine, CEO of Vivendi, commented: "This
acquisition marks a major milestone in our drive to build a global
leader in content, media and communication. It gives our Group a
unique positioning and a major advantage in an environment marked
by the ever-increasing convergence between content, distribution
and communication. Havas brings its expertise in consumer science,
data analytics and new creative formats to the entire Vivendi
group. Most importantly, our two companies have gotten to know one
another well and our teams enjoy working together, essential keys
to success in the creative and innovative industries, which rely on
a wealth of talent."
Yannick Bolloré, CEO of Havas Group, said: "We look forward to
joining forces with the Vivendi group. Vivendi’s ambitious strategy
for accelerated development towards a global communications leader
will enable us to develop even more quickly. Vivendi will provide
us with, on one hand, new strategic and financial resources to
enrich the expertise we offer to our clients and, on the other,
broader opportunities for our talents. We thank the Vivendi teams
for their trust and support.”
Completion of the transaction is subject to the approval of the
competent competition authorities.
About Vivendi
Vivendi is an integrated media and content group. The company
operates businesses throughout the media value chain, from talent
discovery to the creation, production and distribution of content.
Universal Music Group is engaged in recorded music, music
publishing and merchandising. It owns more than 50 labels covering
all genres. Canal+ Group is engaged in pay-TV in France, as well as
in Africa, Poland and Vietnam. Its subsidiary Studiocanal is a
leading European player in production, sales and distribution of
movies and TV series. Gameloft is a worldwide leader in mobile
games, with 2 million games downloaded per day.Vivendi Village,
groups together Vivendi Ticketing (in the United Kingdom, the
United States and France), MyBestPro (expert counseling), Watchever
(subscription streaming services), Radionomy (digital radio), the
venues L’Olympia and Theâtre de L‘Œuvre in Paris, and CanalOlympia
in Africa, as well as Olympia Production. With 3 billion
videos viewed each month, Dailymotion is one of the biggest video
content aggregation and distribution platforms in the world.
www.vivendi.com, www.cultureswithvivendi.com.
Important Disclaimers
This press release is for information purposes only and does not
constitute an offer and should not be construed as constituting any
form of solicitation for the purchase or sale of securities in any
jurisdiction, including in France.
Vivendi does not intend to open the public tender offer
described above, directly or indirectly, in the United States or to
persons who are in the United States. Accordingly, no copy of this
press release or any other document relating to the public tender
offer may be published, distributed or released directly or
indirectly in the United States in any manner whatsoever.
The dissemination, publication or distribution of this press
release is prohibited in any country where such dissemination,
publication or distribution would constitute a violation of
applicable law or regulation or would subject Vivendi to any legal
requirements.
Cautionary Note Regarding Forward Looking Statements.
This press release contains forward-looking statements with
respect to the offers to purchase Havas shares by Vivendi as
described herein. Although Vivendi believes that such
forward-looking statements are based on reasonable assumptions,
such statements do not guarantee the completion of the offers to
purchase or the terms of such offers. Actual results may differ
materially from the forward-looking statements as a result of a
number of risks and uncertainties, many of which are outside our
control, including but not limited to the risks related to
antitrust and other regulatory approvals as well as any other
approvals which may be required in connection with certain
transactions and the risks described in the documents Vivendi files
with the Autorité des Marchés Financiers (French securities
regulator), which are also available in English on Vivendi’s
website (www.Vivendi.com). Investors and security holders may
obtain a free copy of documents filed by Vivendi with the Autorité
des Marchés Financiers at www.amf-france.org, or directly from
Vivendi. Accordingly, we caution you against relying on forward
looking statements. These forward-looking statements are made as of
the date of this press release and Vivendi disclaims any intention
or obligation to provide, update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Unsponsored ADRs. Vivendi does not sponsor an American
Depositary Receipt (ADR) facility in respect of its shares. Any ADR
facility currently in existence is “unsponsored” and has no ties
whatsoever to Vivendi. Vivendi disclaims any liability in respect
of any such facility.
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