Vivendi to acquire a 17.5% stake in Lagardere from Amber Capital for $673m.

Vivendi, a French media conglomerate, agreed to acquire a 17.5% stake in Lagardere, a content publishing, production, broadcasting company, from Amber Capital, a private equity firm, for $673m. Should the acquisition by Vivendi be completed, Vivendi will hold 45.1% of the share capital and 36.1% of the voting rights of Lagardère, going above the 30% share capital and voting right thresholds in Lagardère. As a result, a mandatory proposal for a public offer at the same price for all Lagardère shares not yet owned by Vivendi will be filed with the French market authority in accordance with current regulation.