Lagardère launches a public buyout offer for Lagardère Active Broadcast shares

Lagardère Active, a subsidiary of Lagardère SCA, announces it has filed today a draft public buyout offer (“the Offer”) for all of the shares of Lagardère Active Broadcast, not held by Lagardère Active, at a price per share of €355. This represents a 12.3% premium on the latest share price (Monday, 29th June 2015).
As a reminder, these shares are listed on the Euronext Paris regulated market (ISIN: MC00000120790).

The Offer, which will be followed by a request for delisting of the shares from Euronext, is intended to provide minority shareholders of Lagardère Active Broadcast an immediate liquidity for their shares at an attractive price in an environment where there is almost no liquidity for the free float in the market.

The Offer relates to the 8,229 shares not held by Lagardère Active, leading to a maximum acquisition cost, excluding expenses and fees, of around €2.9 million for Lagardère Active.

This operation will simplify Lagardère Active Broadcast ‘s legal processes, and entail cost savings (including on listing fees).

Lagardère Active owns 99.50% of the share capital and 99.59% of voting rights of Lagardère Active Broadcast which is a public limited company incorporated under Monegasque law.The company is Lagardère Active’s audiovisual division: radio stations in France (Europe 1, music stations) and abroad (Eastern Europe, French-speaking Africa), audiovisual production and distribution (Lagardère Entertainment) and theme TV channels (particularly Gulli).

Oddo Corporate Finance, as sponsor bank, filed the Offer with the French financial markets authority (Autorité des marches financiers -AMF), which issued a filing notice. The Offer remains subject to the approval by the AMF.

All legal documents related to this Offer are or will be available on the websites of the AMF (www.amf-france.org), Lagardère Group (www.lagardere.com) and Lagardère Active Broadcast (www.lagardere-active-broadcast.fr )