Vivendi shareholders approve to split Canal+, Havas & Louis Hachette Group

Vivendi's Combined General Shareholders Meeting, chaired by Yannick Bolloré, approved the separation of Canal+, Havas, and the Louis Hachette Group (encompassing a 66.53% stake in Lagardère and full ownership of Prisma Media) with over 97.5% of the votes. The shares of these three entities will commence trading on December 16, 2024, on the London Stock Exchange, Euronext Amsterdam, and Euronext Growth Paris, respectively.

Last year, Vivendi's supervisory board approved exploring a company split to unlock its full potential. The breakup will divide the company into three entities: Canal+, Havas, and an investment arm, Lagardère.

With a quorum of 71.96% of shareholders present or represented, the resolutions requiring a two-thirds majority—pertaining to partial asset contributions under French partial demerger regulations—received overwhelming support. The Canal+ demerger was approved with 97.57% of the votes, while the Louis Hachette Group demerger received 97.58%. Additionally, the resolution for the distribution of Havas NV shares to Vivendi shareholders, requiring a simple majority, was passed with 97.61% approval.

Yannick Bolloré said: “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 looking to acquire Vivendi shares to participate in the spin-off allocation must do so by December 13, 2024. The shares of Canal+, Havas NV, and the Louis Hachette Group will be listed for the first time on December 16, 2024, at 9 a.m. (Paris time). Shareholders eligible to receive these shares will have them delivered on December 18, 2024. The deadline for the payment of social levies, non-final withholding tax, or withholding tax related to this transaction is January 15, 2025.