Vivendi and Lagardère agree on terms for disposal of 20% share in Canal+ France
Corporate & other activities, Finance
Paris, October 28, 2013
Joint Press Release
The Vivendi and Lagardère Groups welcome the successful outcome of the mediation led by René Ricol under the authority of the Paris Tribunal de Commerce (commercial court) and the terms agreed concerning the disposal by Lagardère Group of its 20% stake in Canal+ France for €1.020 billion in cash.
This agreement, which will be submitted for information to the appropriate works councils, puts an end to all disputes between the two groups related to this participation.
Vivendi wishes to thank Lagardère Group for successfully supporting the development of Canalsatellite and Canal+ France over the past ten years.
The Lagardère and Canal+ Groups will continue to pursue their cooperation in program production and the publishing and distribution of television channels.
Vivendi groups together leaders in content and media. Canal+ Group is the French leader in pay-TV, also operating in French-speaking Africa, Poland and Vietnam; its subsidiary StudioCanal is a leading European player in production, acquisition, distribution and international film sales. Universal Music Group is the world leader in music; it recently strengthened and diversified its position with the acquisition of EMI Recorded Music.
In telecommunications, Vivendi owns GVT, the leading alternative broadband operator in Brazil, and SFR, a French leader in telecoms.
Lagardère is a pure media group (Book and e-Publishing; Press, Audiovisual, Digital and Advertising Sales Brokerage; Travel Retail and Distribution; Sports and Entertainment) and is among the world leaders in the sector.
Lagardère shares are listed on Euronext Paris.
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Cautionary Note Regarding Forward Looking Statements. This press release contains forward-looking statements with respect to the financial condition, results of operations, business, strategy, plans and outlook of Vivendi, including the impact of certain transactions. Although Vivendi believes that such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside our control, including but not limited to the risks related to antitrust and other regulatory approvals as well as any other approvals which may be required in connection with certain transactions and the risks described in the documents Vivendi filed with the Autorité des Marchés Financiers (French securities regulator), which are also available in English on Vivendi's website (www.vivendi.com). Investors and security holders may obtain a free copy of documents filed by Vivendi with the Autorité des Marchés Financiers at www.amf-france.org, or directly from Vivendi. Accordingly, we caution you against relying on forward looking statements. These forward-looking statements are made as of the date of this press release and Vivendi disclaims any intention or obligation to provide, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Unsponsored ADRs. Vivendi does not sponsor an American Depositary Receipt (ADR) facility in respect of its shares. Any ADR facility currently in existence is "unsponsored" and has no ties whatsoever to Vivendi. Vivendi disclaims any liability in respect of any such facility.
Some of the statements contained in this document are not historical facts but rather are statements of future expectations and other forward looking statements that are based on management's beliefs. These statements reflect such views and assumptions prevailing as of the date of the statements and involved known and unkwown risks and uncertainties that could cause further results, performance or future events to differ materially from those expressed or implied in such statements.
Please refer to the most recent Reference Document (Document de reference) filed by Lagardère SCA with the French Autorité des marchés financiers for additional information in relation to such factors, risks and uncertainties.
Lagardère SCA has no intention and is under no obligation to update or review the forward looking statements referred to above. Consequently Lagardère SCA accepts no liability for any consequences arising from the use of any of the above statements.
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