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Press releases

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Paris, 28 April 2021

Proposed conversion of Lagardère from a partnership limited by shares into a joint-stock company

The Supervisory Board of Lagardère SCA has positively received the proposal presented by Arnaud Lagardère to submit the conversion of Lagardère SCA into a joint-stock company to the 30 June 2021 General Meeting.

This proposal is made in the perspective of:

  • Composed shareholder dialogue, the main investors in Lagardère SCA having agreed to vote in favour of the proposal, and Lagardère and Amber Capital having agreed to terminate their legal disputes;
  • Renewed governance structure, allowing representation of the main shareholders on the Board of Directors;
  • Continuity of management around Arnaud Lagardère, who would be appointed Chairman and Chief Executive Officer, and Pierre Leroy, who would be appointed Deputy Chief Executive Officer, with added focus on operational excellence and cash generation;
  • Reaffirmation of the integrity of the Group, focused on its two pillars, Lagardère Publishing and Lagardère Travel Retail, together with its the Other Activities.

As consideration for relinquishing their rights, the General Partners would be allocated ten million new shares. The consideration would be the subject of a valuation report prepared by an independent expert commissioned by the Supervisory Board which will render its opinion on the contemplated conversion.

The proposed conversion is subject to obtaining an exemption from a tender offer from the French financial markets authority (Autorité des marchés financiers - AMF) and the approval of the general meetings of the shareholders and the bondholders.

The proposed conversion would represent an important milestone in the Group's history, built upon leadership in its different businesses and highly-committed teams.


Press Contacts

Image 7 Contacts

  • Anne Méaux - Tel. +33 6 89 87 61 76

Investor Relations Contacts

Created in 1992, Lagardère is an international group with operations in more than 40 countries worldwide. It employs some 28,000 people and generated revenue of €4,439 million in 2020.
In 2018, the Group launched its strategic refocusing around two priority divisions: Lagardère Publishing (Book and e-
Publishing, Mobile and Board games) and Lagardère Travel Retail (Travel Essentials, Duty Free & Fashion, Foodservice).
The Group's operating assets also include Lagardère News and Lagardère Live Entertainment.
Lagardère shares are listed on Euronext Paris.