Vivendi: Proposed Public Buyout Offer Followed by a Mandatory Squeeze-Out on Havas Shares
October 11 2017 - 1:44PM
Business Wire
Regulatory News:
After reaching an ownership level of 94.75% of Havas’s share
capital following the completion of its simplified public tender
offer on October 4th, Vivendi (Paris:VIV) received an additional
redemption request representing approximately 1.6% of Havas’s share
capital. Vivendi decided to accept this redemption request, which
was processed today at the same price as its public tender offer,
i.e. €9.25 per share.
As a result, Vivendi now owns 96.3% of Havas’s share capital.
This level of ownership will allow it to benefit from the Havas tax
consolidation regime.
In light of these new circumstances, in particular the fact that
the Havas shares will no longer be quoted with a free float level
sufficient to ensure their liquidity, Vivendi announces its
intention to launch a public buyout offer open to all Havas
shareholders at a price of €9.25 per share, followed by a mandatory
squeeze-out.
The price will be subject to a new independent appraisal in
accordance with applicable regulation. The buyout offer followed by
a mandatory squeeze-out will then be presented to the Autorité des
marchés financiers, the French securities regulator, in
November.
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.
About Vivendi
Vivendi is an integrated content, media and communications
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 the world leader
in music, engaged in recorded music, music publishing and
merchandising. It owns more than 50 labels covering all music
genres. Canal+ Group is the leading pay-TV operator in France, also
engaged in Africa, Poland and Vietnam. Its subsidiary Studiocanal
is the leading European player in production, sales and
distribution of movies and TV series. Havas Group is one of the
world’s largest global communications group. It is organized
in three main business segments covering all the
communications disciplines: creativity, media expertise and
healthcare/wellness. Gameloft is a worldwide leader in mobile
games, with 2 million games downloaded per day. Vivendi Village
brings together the Paddington brand’s licensing activities,
Vivendi Ticketing (in the United Kingdom, the United States and
France), MyBestPro (expert counseling), Watchever (subscription
streaming services), the venues L’Olympia and Theâtre de L‘Œuvre in
Paris, and CanalOlympia in Africa, as well as Olympia Production.
With 300 million unique users per month, Dailymotion is one of the
biggest video content aggregation and distribution platforms in the
world. www.vivendi.com, www.cultureswithvivendi.com
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WOULD SUBJECT VIVENDI TO ANY LEGAL OBLIGATIONS. YOU MAY NOT FORWARD
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