Vivendi closed its transaction with French publishing group Lagardère. This operation gives it a whole new dimension by strengthening its position as a major player in the fields of culture, media and entertainment, and by becoming a global leader in publishing, travel retail and experiences.
It also allows the Lagardère group to benefit from the support of a stable and long-term shareholder base to be accompanied in its development projects.
This transaction took effect following the closing of the two sales Vivendi had committed to with the European Commission, i.e. the sale of 100% of the share capital of Editis to International Media Invest (IMI), which occurred on November 14, 2023, and the sale of the Gala magazine (which was owned by Prisma Media) to Groupe Figaro, which was completed today.
Lagardère is a worldwide group that fits perfectly into Vivendi’s internationalization strategy. It is present in more than 40 countries and 75% of its revenues are generated outside of France. It has a rich history, well-known brands and values in common with Vivendi, with which it shares a passion for innovation and creation in all its forms.
Lagardère has two main businesses. Lagardère Publishing is the world’s third-largest book publisher for the general public and educational markets, and the number one in France and number two in Great Britain. Lagardère Travel Retail is a leading global travel retailer, number one worldwide in the travel essentials segment and number two in airports. The Lagardère group also includes press activities with Lagardère News and its iconic brands, as well as Lagardère Live Entertainment.
With this transaction, Vivendi becomes significantly larger, with 2022 pro forma combined revenues of more than €16.5 billion. The combined workforce of all the Group’s companies totals approximately 66,000 employees spanning across all continents1.
Yannick Bolloré, Chairman of Vivendi’s Supervisory Board, and Arnaud de Puyfontaine, Chief Executive Officer, said: “We are extremely proud to welcome Lagardère into our group. Their remarkable performances attest to the excellence and commitment of all the teams led by Arnaud Lagardère.”
“This transaction is an opportunity for both our two groups. The alliance of our expertise is a new step in our strategic ambition for transformation, internationalization and integration, propelling us into the future. Our activities, both in terms of product portfolio and geographical presence, are perfectly complementary.”
He added, “As we do for all our businesses, while preserving its integrity, we will support Lagardère in its development and the transformation of its businesses. Together, we will strengthen our international presence in the fields of creation, content and distribution. We are delighted to start a fruitful collaboration, bringing all our activities to new heights.”
Vivendi currently holds approximately 60 percent of Lagardère’s share capital and can now fully exercise slightly over 50% of its voting rights.