Vivendi takes 60% of Havas
June 7, 2017
Vivendi has entered into the purchase agreement with the Bolloré Group regarding the approximately 60 per cent majority stake Bolloré Group holds in Havas at a price of €9.25 per share. The move follows Vivendi’s indicative offer made on May 11th.
Havas is a French multinational advertising and public relations company, headquartered in Paris, France. It operates in more than 100 countries and is one of the largest global advertising and communications groups in the world
The execution of this agreement by Vivendi’s Management Board follows the receipt of positive opinions from the employee representative bodies of the companies of Vivendi, Havas and the Bolloré Group, and the completion of the due diligence process.
Completion of this transaction is subject to the approval of the competent competition authorities.
Yannick Bolloré, CEO Havas Group, commented: “We look forward to joining forces with the Vivendi group. Vivendi’s ambitious strategy for accelerated development towards a global communications leader will enable us to develop even more quickly. Vivendi will provide us with, on one hand, new strategic and financial resources to enrich the expertise we offer to our clients and, on the other, broader opportunities for our talents. We thank the Vivendi teams for their trust and support.”
Arnaud de Puyfontaine, CEO Vivendi, added : “This acquisition marks a major milestone in our drive to build a global leader in content, media and communication. It gives our Group a unique positioning and a major advantage in an environment marked by the ever-increasing convergence between content, distribution and communication. Havas brings its expertise in consumer science, data analytics and new creative formats to the entire Vivendi group. Most importantly, our two companies have gotten to know one another well and our teams enjoy working together, essential keys to success in the creative and innovative industries, which rely on a wealth of talent.”