The managerial board of Vivendi, led by chairmanship Yannick Bollor é and CEO Arnaud de Puyfontaine, has truly accepted a put together for a split into four companies, with traders readied to elect on it onDec 9. If accepted, it would definitely convey in regards to the splitting up of pay-TV titan Canal+, advertising and marketing large Havas and posting firm Louis Hachette Group, which incorporates the corporate’s 66.53 p.c threat in Lagard ère and full possession of Prisma Media, from Vivendi.
“Should the spin-off project be approved by the shareholders’ meeting, the first listing of the shares of the three companies would take place on December 16, 2024, allowing for trading on the stock exchange from this date,” Vivendi acknowledged onTuesday
Canal+ shares would definitely commerce on the London Stock Exchange, Havas on the Euronext Amsterdam market, whereas its posting firm would definitely be supplied on the Euronext Growth trade inParis Vivendi is getting ready to keep up its shares supplied on the Euronext Paris trade.
Management and board participant info for the 4 post-split corporations have been likewise described on Tuesday, with a consider the standing. At Vivendi, Bollor é will definitely proceed to be chairman and de Puyfontaine CHIEF EXECUTIVE OFFICER. At Canal+, Bollor é will definitely work as chairman, with Maxime Saada persevering with to be chief government officer. Bollor é will definitely keep his chairman and chief government officer titles atHavas And Jean-Christophe Thiery will definitely be chair and chief government officer ofLouis Hachette
The spin-off technique is made “to fully unleash the development potential of Vivendi’s different activities,” the agency as soon as extra careworn. “The group has endured a very high conglomerate discount since the distribution and listing of Universal Music Group (UMG) in 2021, significantly reducing its valuation and limiting its ability to carry out external growth transactions for its subsidiaries, which are nonetheless experiencing strong dynamism in an international context marked by numerous investment opportunities.”
Concluded Vivendi: “Should the spin-off project be approved, Canal+, Havas N.V. and Louis Hachette Group will have the capacity to independently allocate and optimize their capital structures to address their specific market dynamics. These companies will pursue their own strategic objectives, including through acquisitions and other growth opportunities. Vivendi, for its part, will remain a leading player in the content and entertainment industries. It will continue to support the transformation and development of its subsidiaries and actively manage its investments.”
