Paris, February 18, 2015
Vivendi has received an offer from Numericable-SFR and Altice for its stake in Numericable-SFR
Vivendi announced today that it has received a binding offer from Altice and Numericable-SFR on February 17 for the acquisition of its 20% stake in Numericable-SFR at a price of €40 per share, representing a total amount of approximately €3.9 billion.
The transaction would be completed as follows:
– half by Numericable-SFR, as part of a share buyback program submitted to a Numericable-SFR Shareholders’ Meeting vote, with payment in cash;
– half by Altice France, with a payment at the latest on April 7th 2016, at an annual interest rate of 3.8% and with a first-demand bank guarantee.
This acquisition would take effect in the days following the Numericable-SFR Shareholders’ Meeting, to be convened on April 30th, 2015 at the latest.
This offer would cancel out any previous agreements and any discussions on price adjustments. It would signify for Vivendi the definitive payment of approximately €17 billion (after the financing of the Virgin acquisition for €200 million).
The Vivendi Management Board will examine this offer in the coming days. The Supervisory Board, convening on February 27, will decide on any subsequent action to be taken.
About Vivendi
Vivendi groups together leaders in content and media. Canal+ Group is the French leader in pay-TV, also operating in French-speaking Africa, Poland and Vietnam; its subsidiary Studiocanal is a leading European player in production, acquisition, distribution and international film and TV series sales. Universal Music Group is the world leader in music. Vivendi Village brings together Vivendi Ticketing, Wengo (expert counseling), Watchever (subscription video-on-demand) and the Paris-based concert hall L’Olympia. In addition, Vivendi currently owns GVT a fixed very high-speed broadband, fixed-line telephony and pay-TV services operator in Brazil. www.vivendi.com
Important Disclaimers
Cautionary Note Regarding Forward Looking Statements. This press release contains forward-looking statements with respect to the financial condition, results of operations, business, strategy, plans and outlook of Vivendi, including projections regarding the impact of certain transactions. 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 related to antitrust and other regulatory approvals as well as any other approvals which may be required in connection with certain transactions and the risks described in the documents Vivendi filed with the Autorité des Marchés Financiers (French securities regulator), which are also available in English on Vivendi’s website (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. Accordingly, we caution you against relying on forward looking statements. These forward-looking statements are made as of the date of this 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.
Unsponsored ADRs. Vivendi does not sponsor an American Depositary Receipt (ADR) facility in respect of its shares. Any ADR facility currently in existence is “unsponsored” and has no ties whatsoever to Vivendi. Vivendi disclaims any liability in respect of any such facility.
