Global content, media and communications group Vivendi is planning to list its ad holding company Havas on Euronext Amsterdam if the decision in the long on-going split project is approved by shareholders. In the Paris-based Vivendi’s H1 2024 report, chairman of Vivendi’s supervisory board Yannick Bolloré, said, “If (the project) were to be completed, this value-creating and profoundly transformative project would offer exciting prospects for all our stakeholders.”
For the first half of 2024, Vivendi’s revenues were €9,052 million, an increase of 92.7% compared to the same period of 2023, which mainly included the impact of the consolidation of its publishing company Lagardère (+€4,193 million). This change also reflected revenue growth at Canal+ Group (+4.6%) and Havas (+3.6%).
In a July 25 statement, Vivendi shared, “On July 22, 2024, Vivendi’s Management Board presented to the Supervisory Board an update on the feasibility study of the split project announced on December 13, 2023. The study has demonstrated the feasibility of this project under satisfactory conditions and identified the most suitable stock exchanges for Canal+ (London Stock Exchange), Havas (Euronext Amsterdam), and the company grouping the assets in publishing and distribution, newly named Louis Hachette Group (Euronext Growth Paris), considering the nature of their activities and their international exposure.”
It added, “Vivendi would remain listed on Euronext Paris. Canal+ and Havas, although listed outside of France would keep the decision-making center of their activities, as well as their operational teams, in France. They would remain French tax residents for French corporate income tax purposes.”
Canal+ Group is a major player in the creation and distribution of cinema and audiovisual content on all continents.
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Vivendi later clarified, “With regard to Canal+, the ongoing split project would result in the admission on the London Stock Exchange of the shares of a French holding company, which would be called Canal+ and would control 100% of the company holding the license to provide terrestrial television services. This holding company would therefore replace Vivendi as the parent company of the Canal+ group.”
On the Havas split the company shared that Havas, with the majority of its activities being carried out internationally, would be listed as a Dutch public limited liability company (NV) on the Euronext Amsterdam stock exchange, which already witnessed Universal Music Group’s success. Havas NV would be subject to Dutch stock market regulations and adhere to the Dutch Corporate Governance Code.
“As a result, Havas would be in the best possible position to carry out its new global strategy, Converged, continue its solid growth as well as its strong commercial and creative momentum, and stabilize its share capital, ensuring its sustainability for its talents and clients,” the company added. “To this end, a Dutch legal foundation would guarantee the preservation of the group’s independence and identity, and multiple voting rights, initially double after two years of holding, then quadruple two years later, would be offered to long term committed shareholders, taking into account the length of time the Vivendi shares were held for the double voting rights.”