Vincent Bolloré accelerates the control of the group on which he had announced a public purchase offer in mid-September.
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Did Vincent Bolloré decided to complete his business before his official retirement on February 17, 2022? To the general surprise, Vivendi accelerates the control of Lagardère, of which he is the first shareholder and on which he had announced an OPA in mid-September. The operation, which was to take place “before December 15, 2022”, will finally be launched in February.
“The recently conducted analyzes of Vivendi led him to consider that this acquisition could intervene now,” said the group in a statement, seeked Thursday, December 9. “Vivendi will report to the Autorité des Marchés Financiers a proposed takeover bid for all the Lagardère actions that it does not hold, at the price of 24.10 euros per share.”
To do this, Vivendi will acquire “in the coming days” the 17.5% of the Amber Capital Fund that he does not hold, carrying his participation at 45% of the capital. This announcement does not lead to additional cash exit. Vivendi had already paid in advance the 610 million euros that he owed to Amber Capital, a sign that he was confident in the realization of this operation. By putting the hand on Lagardère, Vincent Bolloré adds to his media empire, already owners of Canal + or Prisma newspapers, florets such as Paris Match, the newspaper of Sunday, Hachette, Europe 1 and the Shops Relay.
Green light waiting
But the road is still long for Vivendi, which must get the green light of the European competition authority and the Superior Council of Audiovisual (CSA). Initially, he had planned to wait for the approval of these competent authorities before buying Lagardère. Main obstacle: The acquisition of Hachette, while Vivendi has its main rival, Editis, on the publishing market. The rapprochement will require, at least, important “remedies”, in clear asset disposals. The group, who boards on the subject, will file his records with the European Commission next year.
In the meantime, the group indicates that it “will not exercise the voting rights attached to all the actions acquired with Amber”. In other words, it will satisfy its first shareholder position of 22.3% of the voting rights. It should not give the impression that it already controls a group, officially directed and for many years, as Mr. Bolloré promised, by Arnaud Lagardère.
At almost 70 years, the Breton businessman seems to show that he wishes to put his business in order before leaving the prestigious offenders of Vivendi of Friedland Avenue, in 2022. He promised, for the 200 years of the Bolloré group, to give way to his sons.