Vivendi yesterday purchased 5.1% of the capital of Canal+ France, paying the floor price of €384.2 million. On February 1, 2010, M6 exercised its put option.
Tuesday, 23 February 2010
As a result of this transaction and the one entered into with TF1 (cf. Vivendi press release November 23, 2009), Vivendi now owns 80% of Canal+ France (via Groupe Canal+, a wholly-owned subsidiary) and has thus confirmed its strategy to buy out its minority shareholdings.
In accordance with the agreements signed between Vivendi and M6, an expert evaluation is being carried out to determine whether an additional amount is due.
The impact of this transaction had already been taken into account in Vivendi’s debt.
About Vivendi
A world leader in communications and entertainment, Vivendi controls Activision Blizzard (#1 in video games worldwide), Universal Music Group (#1 in music worldwide), SFR (#2 in mobile and fixed telecom in France), Maroc Telecom Group (#1 in mobile and fixed telecom in Morocco), GVT (#1 alternative operator in fixed telecom and internet in Brazil), Canal+ Group (#1 in pay-TV in France) and owns 20% of NBCU (leading U.S. media and entertainment group).
In 2008, Vivendi achieved revenues of €25.4 billion and adjusted net income of €2.7 billion. With operations in 77 countries, the Group has about 49,000 employees.
