PARIS (dpa-AFX) - Vivendi's (VIV.L, VIVEF.PK) Management Board presented to the Supervisory Board an update on the feasibility study of the split project announced on December 13, 2023. The study has identified the most suitable stock exchanges for the three companies once separated from Vivendi. Canal+ would remain a company incorporated and taxed in France, and would be listed on the London Stock Exchange. Havas would be listed as a Dutch public limited liability company on the Euronext Amsterdam stock exchange. The newly named company, Louis Hachette Group, would be listed on Euronext Growth in Paris. Louis Hachette Group would bring together the assets owned by Vivendi in publishing and distribution, i.e., the Group's 63.5% shareholding in Lagardere SA and 100% of Prisma Media. Vivendi would remain listed on the regulated market of Euronext Paris.
The company said the procedures for informing and consulting the employee representative bodies of the concerned Group entities will now be initiated on this project. If the project were to proceed following the procedure, a decision could be taken at the end of October 2024 with the aim of submitting it to an Extraordinary Shareholders' Meeting. The transaction would only be carried out if it were to be approved, during the shareholders' meeting, by a two-thirds majority of the shareholders.
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