Lagardere sells its shares in Canal + - April 15, 2010
Fifteen days of a general meeting which could be problematic, Lagard?re will sell its 20% stake in Canal + France. It has announced that Vivendi, owner of the encrypted channel. The planned sale of 20% of Lagard?re in Canal + had already been circulating on the markets Wednesday.In a roadshow held by the bank Credit Suisse, Dominique D'Hinnin, the group finance director had in fact suggested that Lagardere would yield.
Vivendi and Canal + Group have been informed of the intention to exercise its right Lagard?re liquidity on its 20% stake in Canal + France under the procedure provided for this purpose in the shareholders' agreement on January 4 2007, "Vivendi said in a statement, without elaborating payday loans online.
In fact, according to the agreements between Vivendi and Lagardere in 2006, Lagardere has a launch window from March 15 to April 15 each year until 2015 to make that decision. Either he decides to put its stake on the stock exchange, or it sells by Vivendi. Lagardere has no option and Vivendi has no option.Between the two groups, there is no floor price as provided to the M6 and TF1. These two groups have recently sold their respective stakes of 5.1% and 9.9% on the basis of a $ 7.5 billion for Canal + France. At this level, 20% of Lagard?re worth 1.4 billion euros. But other analysts say the price could be lower: between 1.2 and 1.3 billion euros.