Vivendi, nan genitor institution of Canal+ Group, has received nan greenish ray from nan European Commission to proceed pinch nan acquisition of Lagardère, nan French media, publishing and recreation unit conglomerate.
This European Commission has fixed its support nether Vivendi’s 2 projected commitments, starting pinch nan waste of 100% of nan stock superior of its publishing group Editis, arsenic good arsenic nan afloat waste of Gala magazine. Vivendi said it expects to adjacent some deals by nan extremity of October. It entered into exclusive negotiations to waste Editis to a subsidiary of Czech Media Invest (CMI) founded by Daniel Kretinsky, successful March.
With nan acquisition of Lagardère group, Vivendi’s payroll will emergence to 66,000 labor compared to 38,000 astatine nan extremity of December 2022, pinch a stronger beingness successful cardinal markets specified arsenic France, nan U.K., Spain and nan US.
The institution said it’s projecting its yearly revenues to scope approximately €17 cardinal based connected 2022 results, compared to astir €10 cardinal today.
“The European Commission’s determination is excellent news for Vivendi which will now beryllium capable to successfully transportation retired its eager improvement scheme pinch nan Lagardère group. The transaction will align pinch our strategical ambition to internationalize our activities and our determination to beryllium a starring world subordinate successful civilization and entertainment,” said Yannick Bolloré, Vivendi supervisory committee chairman.
Arnaud de Puyfontaine, Vivendi’s CEO, said, “This transaction will beryllium profoundly transformative for our 2 groups. We afloat intend to play to our respective strengths to constitute together a caller page successful nan history of our companies.”
“We are eager to spot nan teams of our 2 groups excavation their know-how and capitalize connected their respective complementarities to accelerate nan improvement of our activities and supply breathtaking caller perspectives to nan galore talents who person placed their spot in us,” de Puyfontaine continued.