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Qatar Holding does not intend to sell its shares in Lagardère to Vivendi

(AOF) – Lagardère remains almost stable on the Paris stock exchange, with a symbolic increase of 0.08% to 24.98 euros per share. The publishing and media company issued a statement on Sunday regarding Vivendi’s tender offer, stating that the fund Qatar Holding LLC would not take part in this takeover. “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”, writes the parent company of Europe 1 and the JDD.

Qatar Holding LLC, which holds 11.52% of Lagardère’s capital, also specified that it “could consider purchasing or selling Lagardère SA shares depending on market opportunities and/or regulatory requirements. applicable”.

For its part, Financière Agache, Bernard Arnault’s holding company holding nearly 10% of the capital, declared on Friday its intention to contribute 2% of the capital to Vivendi’s main offer, which will end on May 20, and “the balance of its participation in the subsidiary offer in the event of the reopening of this public offer”.

As a reminder, Vivendi’s offer opened on April 14 offers two options to Lagardère shareholders: either, principally, to sell their Lagardère shares at a unit price of 25.50 euros (distribution rights attached); or, on a subsidiary basis, to benefit, for each Lagardère share presented to this subsidiary branch and held until the closing date (inclusive) of the offer, the right to sell it to Vivendi at a unit price of 24, 10 euros until December 15, 2023 (included).

“The financial success of the transaction no longer in doubt, remains for Vivendi to obtain the approval of the Competition authorities, recalls Invest Securities. The formal notification is expected in Q2 2022 for authorization in H2 2022”.

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