At Lagardère, the “pax Vivendi” was to last five years… It only lasted three months.
On Wednesday, the Vivendi group announced that it had agreed to buy back the 17.93% of Lagardère's capital held by the Amber Capital fund at a price of 24.10 euros (an amount of 610 million euros), i.e. a premium of 23 , 6% compared to the last quoted price (19.49 euros).
For the Amber fund, which entered Lagardère's capital in 2016 and whose cost price of securities is between 15 and 20 euros, this is an honorable exit.
He earns money after having succeeded in changing the governance of the Lagardère group.
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Vivendi becomes the first shareholder of the new Lagardère
As Vivendi itself owns 27.2% of the capital, once the transaction is completed, it will greatly exceed the 30% threshold of Lagardère's capital (with 45.1%) and will therefore have to launch a takeover bid on all of the remaining shares. .
Amber proposed this operation to Vivendi three days ago.
The fund had the option of selling its share in accordance with the agreements signed on August 10, 2020 with
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