Risk of overconcentration. According to Le Figaro, the Vivendi group wishes to separate from its publishing house Editis in order to be able to keep Hachette as part of the takeover of the Lagardère group. From the very beginning of the takeover of the business of Arnaud Lagardère by the Bolloré family, the European authorities were looking for conditions for bringing the two publishing houses closer together.
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The sale is scheduled for the first quarter of 2023.
“It is true that this was not our preferred scenario. It’s an emotional sacrifice for us because Editis is a great house that we’ve invested heavily in since 2019, and at the same time, we’ve provided him with the funds for his ambition. Yannick Bollore, chairman of Vivendi’s Supervisory Board, told Le Figaro. The project, which was decided yesterday by the Supervisory Board members, is due to be submitted to the European Commission in September.
When questioned, Arnaud de Puyfontaine, Chairman of the Board of Vivendi, explains that “this sale project will be carried out mainly by distributing Editis shares to Vivendi’s shareholders. Editis will then become a company listed on the Euronext market in Paris.” “The Bolloré Group, Vivendi’s largest shareholder with 29%, must sell all Editis shares thus obtained in order to provide Editis with a benchmark and a stable core of shareholders,” he adds. Vivendi hopes to sell Editis in the first quarter of 2023 if European regulators accept the offer.