Print Published 12th May 2017, 09:23

Vivendi offers to buy Bolloré stake in Havas

The Bolloré family’s Groupe Bolloré looks set to reorganise its shareholdings in Vivendi and Havas Group by selling its controlling shareholding in Havas to Vivendi for €2.3 billion (£1.94 billion)  in cash.

Last night Vivendi announced an “indicative offer” of €9.25 for each Havas share held by Bolloré Groupe subject to, among other things, the approval of the relevant competition authorities, completion of satisfactory due diligence, and consultation with the employee representative bodies.

If the acquisition of the Bolloré shareholding is completed successfully, Vivendi intends to acquire the remaining Havas shares by means of a public tender offer at the same price, valuing Havas at €3.9 billion (£3.3 billion) or 21.9 times the post-tax profit for 2016.