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Bernard Arnault buys 5% of Lagardère's capital


He takes 27% of Arnaud Lagardère's holding company and 5% of the group's capital. He bets a total of 180 million euros

Every day, its novelty in the Lagardère soap opera.

After months of suspense, the families of Arnaud Lagardère and Bernard Arnault finalized the agreement reached on May 25.

The Arnault family's holding company, Agache Financial, takes a stake representing around 27% of the capital of Lagardère Capital & Management, renamed Lagardère Capital.

This family structure of Arnaud Lagardère controls the eponymous group via a sponsorship system.

But Bernard Arnault goes further.

Firmly established in the head holding company, it also decided to invest directly in Lagardère SCA, by buying more than 5% of the capital.

He therefore descends into the arena to face the two rebellious shareholders of the group: Vivendi (24% of the capital) and Amber (20% of the capital).

In total, Bernard Arnault has invested nearly 180 million euros in the business (80 million for 27% of the holding company and 100 million for 5% of the group).

With the 7.26% held by Arnaud Lagardère via the LCM holding company, the two allies now control more than 12% of the capital.

And according to our information, the two families intend to strengthen further in the capital to offset the tandem formed by Vivendi and Amber Capital.

Surprise at the commercial court

The latter pleaded, Thursday afternoon, before the Paris Commercial Court to obtain in summary proceedings the rapid convening of a new General Meeting of Lagardère SCA with the aim of bringing in four new members to the group's supervisory board.

Lawyers for both parties presented their arguments.

For those of Vivendi and Amber, Lagardère must accept a request from shareholders holding nearly 60% of the capital.

Because since Wednesday, Qatar has joined its voice to that of Vivendi and Amber.

For Lagardère's lawyers, the two plaintiffs act only in their particular interests and not in the social interest of the group.

But a question from a commercial court judge created some emotion.

“Concretely, what would be the first decisions of the supervisory board if it were to be renewed?”

he asked lawyers for Vivendi and Amber.

To this question, Amber's lawyer replied that this board would assess Arnaud Lagardère's management over the past six years and could then be led to not confirm the renewal of Arnaud Lagardère's mandate as manager decided on August 25 “.

Clearly, the first decision of a possible new supervisory board would be to put an end to Arnaud Lagardère's reign!

The Paris Commercial Court will render its decision on October 14.

Source: lefigaro

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