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Vivendi paves way for Lagardere takeover with Amber stake buy By Reuters

© Reuters. FILE PHOTO: The emblem of Vivendi is pictured on the principal entrance of the entertainment-to-telecoms conglomerate headquarters in Paris, France, April 22, 2021. REUTERS/Gonzalo Fuentes/File Photo

PARIS (Reuters) – French media conglomerate Vivendi (OTC:) mentioned on Wednesday it had agreed to buy Amber Capital’s 17.9% stake in Lagardere, including to its personal holding and placing it in place to launch a takeover provide for the proprietor of Paris Match.

Vivendi already owns 27% of Lagardere, and its stake will move the 30% threshold at which it’s obliged to launch a bid.

The French firm mentioned in an announcement that purchasing the Lagardere stake might take till December 2022, as it’s conditional on approvals, together with from European regulators, however that it could launch a takeover provide as soon as it was accomplished.

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#Note-Author Name – Reuters

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