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Paris, December 14, 2006
Vivendi Remains 20% Shareholder in NBC Universal; Modifies Terms of
its Agreements with GE Regarding Liquidity
Vivendi has informed GE of its decision not to exercise its exit rights with
respect to NBC Universal in January 2007. Vivendi will remain a shareholder in
NBC Universal, in which it has a 20% stake.
Simultaneously, the
agreements between Vivendi and GE have been modified. The timeline of Vivendi’s
right to demand an IPO of NBC Universal and of GE’s right to call Vivendi’s
interest have been extended.
Vivendi’s demand right can now be exercised in
November each year from 2007 to 2016 with the closing at market value taking
place over the following year. Similarly, the call option in GE’s favor can be
exercised in May each year from 2011 to 2017 with a floor price of $8.3 billion
that will increase each year from May 2009 based on the US Consumer Price
Index.
Lastly, Vivendi’s liquidity right in the first year has been
increased to $4 billion (from $3 billion) and remains $4 billion each year
thereafter.
Important disclaimer:
This press release contains forward-looking statements with respect to
the financial condition, results of operations, business, strategy and plans of
Vivendi. Although Vivendi believes that such forward-looking statements are
based on reasonable assumptions, such statements are not guarantees of future
performance. Actual results may differ materially from the forward-looking
statements as a result of a number of risks and uncertainties, many of which are
outside our control, including, but not limited to, the risks described in the
documents Vivendi filed with the Autorité des Marchés Financiers (French
securities regulator) and which are also available in English on our web site
(www.vivendi.com). Investors and
security holders may obtain a free copy of documents filed by Vivendi with the
Autorité des Marchés Financiers at www.amf-france.org, or directly
from Vivendi. The present forward-looking statements are made as of the date of
the present press release and Vivendi disclaims any intention or obligation to
provide, update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
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