The managerial board of Vivendi, led by chairmanship Yannick Bollor é and CEO Arnaud de Puyfontaine, has actually accepted a prepare for a split into four companies, with investors readied to elect on it onDec 9. If accepted, it will certainly bring about the splitting up of pay-TV titan Canal+, marketing giant Havas and posting company Louis Hachette Group, which includes the company’s 66.53 percent risk in Lagard ère and complete 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 stated onTuesday
Canal+ shares would certainly trade on the London Stock Exchange, Havas on the Euronext Amsterdam market, while its posting company would certainly be provided on the Euronext Growth exchange inParis Vivendi is preparing to maintain its shares provided on the Euronext Paris exchange.
Management and board participant information for the 4 post-split firms were likewise described on Tuesday, with a concentrate on the status. At Vivendi, Bollor é will certainly continue to be chairman and de Puyfontaine CHIEF EXECUTIVE OFFICER. At Canal+, Bollor é will certainly work as chairman, with Maxime Saada continuing to be chief executive officer. Bollor é will certainly maintain his chairman and chief executive officer titles atHavas And Jean-Christophe Thiery will certainly be chair and chief executive officer ofLouis Hachette
The spin-off strategy is made “to fully unleash the development potential of Vivendi’s different activities,” the firm once more stressed. “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.”
