Vivendi holds 57% of Lagardère share capital after final public tender result

By Luke Barras-hill |

The settlement delivery for the reopened friendly public tender offer will take place on 24 June.

French media, content and communications firm Vivendi SE has increased the share capital it holds in Lagardère Group to 57.35% following the conclusion of a reopened friendly public tender offer.

Vivendi now possesses 80,943,768 Lagardère shares, representing the same number of voting rights, and 47.33% of the theoretical voting rights in Lagardère.

The final result gives Vivendi only 22.45% of the voting rights pending approval of the takeover by the competition authorities.

As reported, Vivendi acquired just over 55% of the share capital in Lagardère SA, equating to 78,228,398 shares, last month after the completion of an initial public tender covering the period 14 April to 20 May.

SHARES ALLOCATION

The public tender offer for the main and subsidiary branches resumed on 27 May and ran until 9 June.

As part of the deal, 20,245,979 shares have been presented to the subsidiary leg of the public tender offer during its reopening, bringing the number to 31,184,281 shares for the totality of the tender exercise.

The holders of such shares will receive an equal number of transfer rights valued at €24.10/$25.25 until 15 December 2023.

In a statement, Vivendi said: “The settlement-delivery for the reopening of the public offering will take place on 24 June, 2022, and the allocation of the transfer rights related to the shares presented to the subsidiary leg during the reopening period will start the same day.”

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