October 29, 2024 08:39 GMT
COMMUNICATIONS: Vivendi’s Supervisory Board Approves Shareholder Resolutions
COMMUNICATIONS
Vivendi’s supervisory board has approved the resolutions to be submitted to shareholders on 09 December.
Baa3
- Vivendi’s Dec. 2024 shareholder vote to spin off Canal+, Havas N.V., and Louis Hachette Group; one-for-one share allocation per Vivendi share for each new entity.
- Debt structure post-spin: Canal+ retains EUR 400mn net debt, Louis Hachette has no debt, Havas N.V. with near-zero debt; Vivendi remains with EUR 1.9bn net debt (after deduction of the €540 million loan granted to Lagardère in June 2024).
- Canal+ shares to list on LSE, Havas on Euronext Amsterdam, and Louis Hachette Group on Euronext Growth; listings effective Dec. 16, 2024.
- Tax implications: allocation of shared to be treated partly as taxable dividend, partly as capital return, pro rata and based on Vivendi’s EUR 4.23bn reserves.
- Docs: https://www.vivendi.com/en/shareholders-investors/shareholders-meeting/
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