Lagardère is taking legal action against Vivendi and Groupe Canal+ for the restitution of €1.6billion in cash to Canal+ France Business Wire PARIS -- February 13, 2013 Regulatory News: In its capacity as a Canal+ France shareholder^1, Lagardère (Paris:MMB)has summoned Vivendi and Groupe Canal+ (hereinafter “the Vivendigroup”) to appear in the Paris commercial court on March 21, 2013, for the purposes of obtaining a restitution from the Vivendi group to Canal+ France of its cash, which amounted to close to €1.6billion on November 30, 2012. Lagardère believes that the Vivendi group is making permanent use of Canal+ France’s entire cash surplus under a cash management agreement, the legality of which Lagardère contests. Lagardère considers that the use made by the Vivendi group of this cash management agreement has caused significant harm to Canal+ France, since it: (i) receives a very low interest, which does not take into account either the amounts at stake or the permanent nature of its use by the Vivendi group; (ii) is providing low-cost funding for the goals pursued by the Vivendi group’s wholly-owned subsidiaries; (iii) is exposed to financial risks that are not justified given the absence of any guarantee protecting Canal+ France. Lagardère believes that this action is necessary to defend Canal+ France’s corporate interests. Lastly, Lagardère regrets that this situation, which was created by the Vivendi group, has caused a deadlock preventing Canal+ France, as things stand, from going ahead with an IPO in normal conditions. Lagardère is a world-class pure-play media group (Book and e-Publishing; Press, Audiovisual, Digital and Advertising Sales Brokerage; Travel Retail and Distribution; Sport Industry and Entertainment). With a holding of around 7.5%, Lagardère jointly controls EADS. Lagardère shares are listed on Euronext Paris. ^1 Lagardère owns a 20% stake in Canal+ France. Contact: Press Thierry FUNCK-BRENTANO, +33 (1) 40 69 16 34 firstname.lastname@example.org or Ramzi KHIROUN, +33 (1) 40 69 16 33 email@example.com or Investor Relations Anthony MELLOR, +33 (1) 40 69 18 02 firstname.lastname@example.org
Lagardère is taking legal action against Vivendi and Groupe Canal+ for the restitution of €1.6 billion in cash to Canal+
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