Vivendi today announced the closing of the sale of Editis to International Media Invest (IMI), a subsidiary of the CMI group founded by Daniel Kretinsky.
The closing follows the European Commission’s decisions to grant, on one hand, authorization to IMI to acquire Editis and, on the other, to approve this company as a suitable purchaser of the publishing group.
The total amount of funds received by Vivendi is €653 million including the reimbursement of the Editis debt to Vivendi at closing.
The European Commission also approved Groupe Le Figaro as a suitable purchaser of the Gala magazine business (owned by Prisma Media). The closing of this transaction is expected to occur by the end of November.
Accordingly, the completion of the transaction between Vivendi and the Lagardère group should take place in the coming weeks, allowing Vivendi to fully implement its ambitious development plan.
About Vivendi
Since 2014, Vivendi has been building a world-class content, media and communications group. The Group owns leading, highly complementary assets in television and movies (Canal+ Group), communications (Havas), magazines (Prisma Media), video games (Gameloft) and live entertainment and ticketing (Vivendi Village). It also owns a global digital content distribution platform (Dailymotion) and a subsidiary dedicated to providing very high-speed Internet access in Africa (GVA). The combination with Lagardère, subject to the fulfilment of the commitments that Vivendi has proposed to the European Commission, will enable the Group to become the world’s third-largest consumer and educational publishing group. Vivendi’s various businesses cohesively work together as an integrated industrial group to create greater value. Vivendi is committed to the environment and aims to help mitigate climate change by adopting an approach aligned with the 2015 Paris Agreements. In addition, the Group is helping to build more open, inclusive and responsible societies by supporting diverse and inventive creative works, promoting broader access to culture, education and its businesses, and increasing awareness of 21st century challenges and opportunities. www.vivendi.com
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