Lagardère: Qatar Holding will not participate in Vivendi’s takeover bid | Photo credits: Flickr
PARIS (Agefi-Dow Jones)–The media and distribution group Lagardère announced on Sunday that the Qatari fund Qatar Holding did not intend to tender its shares to Vivendi’s takeover bid.
“Qatar Holding LLC indicates that it does not intend to tender its Lagardère SA shares to the main or subsidiary branch of the public offer filed by Vivendi SE on February 21, 2022 and approved by the Autorité des marchés financiers on April 12, 2022 “, announced Lagardère in a press release.
Qatar Holding owns approximately 11.5% of the capital of Lagardère. The Qatari fund also said it “may consider making purchases or sales of Lagardère SA shares depending on market opportunities and/or applicable regulatory requirements,” Lagardère said.
Financière Agache, an investment company controlled by Bernard Arnault and owner of nearly 10% of the capital of Lagardère SA, for its part announced on Friday that it would bring about 2% of the capital of Lagardère SA to Vivendi’s main offer. “Financière Agache intends to contribute the balance of its participation in the subsidiary offer in the event of the reopening of this public offer,” it added in a press release.
Vivendi’s main offer allows shareholders to sell their shares at a price of 25.5 euros with distribution rights attached from April 14 to May 20. The subsidiary offer guarantees Lagardère shareholders who did not participate in the main offer a sale price of 24.10 euros per share until December 15, 2023.
Vivendi acquired in December 17.5% of the capital of Lagardère from the Amber Capital fund, at a price of 24.10 euros per share. He then filed in early February a draft public tender offer (OPA) on the 55% of the group that he does not yet hold.
-Julien Marion, Agefi-Dow Jones; +33 (0)1 41 27 47 94; [email protected] ed: LBO – ECH
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May 09, 2022 05:55 ET (09:55 GMT)