Vivendi shareholders approve split of Canal+, Havas, and Louis Hachette Group

Vivendi’s Combined General Shareholders Meeting, chaired by Yannick Bolloré, has approved the separation of Canal+, Havas, and the Louis Hachette Group, which includes a 66.53% stake in Lagardère and full ownership of Prisma Media. The approval came with more than 97.5% support, and the shares of these entities will begin trading on December 16, 2024, on the London Stock Exchange, Euronext Amsterdam, and Euronext Growth Paris, respectively.

The decision to separate was made following Vivendi's supervisory board approval last year to explore a company split, aiming to unlock the full potential of its assets. This strategic move will result in the creation of three distinct entities: Canal+, Havas, and Lagardère’s investment arm.

With 71.96% of shareholders present or represented at the meeting, the resolutions concerning the demerger, which required a two-thirds majority vote under French partial demerger regulations, received overwhelming approval. The demerger of Canal+ and the Louis Hachette Group was supported by 97.57% and 97.58% of the votes, respectively. Additionally, the resolution to distribute shares of Havas NV to Vivendi shareholders, which required a simple majority, was approved with 97.61% backing.

Yannick Bolloré commented, “We are delighted with the very high adoption rate of our spin-off project. This undisputable result confirms the strong support of our shareholders for this transformative transaction. The Supervisory Board would like to warmly thank Arnaud de Puyfontaine and the whole Management Board, all the teams involved in this project, our different advisors and our shareholders for their trust. We are convinced that this new chapter for Canal+, Havas and Louis Hachette Group will be very promising and create value for all stakeholders.”

Investors who wish to participate in the spin-off allocation must purchase Vivendi shares by December 13, 2024. The first trading of the Canal+, Havas NV, and Louis Hachette Group shares will take place on December 16, 2024, at 9:00 AM (Paris time). Shareholders eligible to receive these shares will have them delivered on December 18, 2024. The deadline for paying any related taxes is January 15, 2025.