The Supervisory Board approves the proposed division into four entities

French media and publishing giant Vivendi announced on Tuesday January 30 the recognition by its supervisory board of a proposed split into four entities: Canal+, Havas, publishing and distribution (Lagarde and Prisma Media) as well as an investment company.

“The management board today proposed to the supervisory board – which the latter accepted – to organize the division around four entities”

A press release clarifies that the group that took over Lagardere in late November.

The split project was announced in mid-December with three entities each listed on the stock exchange: Canal+, Havas and an investment company. “Listed and Unlisted Financial Partnerships in the Culture, Media and Entertainment Sectors”.

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Innovation, Tuesday, is therefore a project to create“A company bringing together publishing and distribution assets”WHO “Will bring together Vivendi’s majority stake in Lagardere and 100% stake in Prisma Media”, And “will promote collaboration between the various fields of activity connected with publishing in its broadest sense”the group said.

A long term project

This long-term split project “It should demonstrate its added value to all stakeholders and include an analysis of the tax implications of the various planned operations”

, explains Vivendi. A new progress report on the project study will be presented at the supervisory board meeting on March 7, the date the group publishes its annual results.

among others “Milestones” To come, cites Vivendi “Consulting staff representative bodies of concerned units”, “Obtaining necessary regulatory authorizations, necessary approvals from bondholders and other lenders of the group” And when the time comes “Consent of Vivendi Shareholders”.

At the end of November, the Bolloré family’s takeover of Lagardere House finally reached its conclusion after more than three and a half years of adventures. With this mega-acquisition, Vivendi changes size and goes from 38,000 to about 66,000 employees. Its turnover will increase by 72% to 16.5 billion euros compared to 2022, according to the group.

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The world with AFP