Vivendi: The Supervisory Board launches a study for a demerger plan
Vincent Bolloré is appointed Vice Chairman of the Supervisory Board
PARIS -- September 11, 2013
Vivendi’s (Paris:VIV) Supervisory Board, after announcing two major
divestments in July, has unanimously decided to launch a study to split the
Group into two separate companies:
*A new international media group based in France, with very strong
positions in music worldwide (where it is the undisputed leader), the
Internet and associated services in Brazil, European cinema, as well as in
pay-television in France, Africa, Poland and Vietnam. At a time when the
increasing number of platforms and global distribution generate strong
content demand, the Group is aiming to develop in media on the basis of
several growth activities.
*SFR. The company would gain greater freedom on strategy and developing
partnerships. It would fully benefit from improved performance thanks to
its wide ranging management transformation, as well as a revitalized
business sector boosted by the explosion in usage of very high speed fixed
and mobile Internet and connectivity.
The final decision regarding this demerger could be taken at the beginning of
next year and submitted to the 2014 Shareholders’ Meeting.
The planned demerger would create significant value to shareholders as they
would have the opportunity to invest in two clearly differentiated vehicles
evaluated according to the specifics of their respective sectors.
To prepare this new organization, Jean-René Fourtou, Chairman of the
Supervisory Board, proposed the appointment of Vincent Bolloré as Vice
Chairman of the Supervisory Board. Vincent Bolloré thanked and paid tribute to
Mr. Fourtou and guaranteed him his full support.
Vivendi groups together leaders in content and media. Canal+ Group is the
French leader in pay-TV, also operating in French-speaking Africa, Poland and
Vietnam; its subsidiary StudioCanal is a leading European player in
production, acquisition, distribution and international film sales. Universal
Music Group is the world leader in music; it recently strengthened and
diversified its position with the acquisition of EMI Recorded Music.
In telecommunications, Vivendi owns GVT, the leading alternative broadband
operator in Brazil, and SFR, a French leader in telecoms.
Vivendi recently announced the disposal of Maroc Telecom and the sale of the
majority of its interest in Activision Blizzard, the world leader in video
Cautionary Note Regarding Forward Looking Statements. This press release
contains forward-looking statements with respect to the financial condition,
results of operations, business, strategy, plans and outlook of Vivendi,
including the impact of certain transactions. Although Vivendi believes that
such forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance. Actual results may differ
materially from the forward-looking statements as a result of a number of
risks and uncertainties, many of which are outside our control, including but
not limited to the risks related to antitrust and other regulatory approvals
as well as any other approvals which may be required in connection with
certain transactions and the risks described in the documents Vivendi filed
with the Autorité des Marchés Financiers (French securities regulator), which
are also available in English on Vivendi's website (www.vivendi.com).
Investors and security holders may obtain a free copy of documents filed by
Vivendi with the Autorité des Marchés Financiers at www.amf-france.org, or
directly from Vivendi. Accordingly, we caution you against relying on forward
looking statements. These forward-looking statements are made as of the date
of this press release and Vivendi disclaims any intention or obligation to
provide, update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise.
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(ADR) facility in respect of its shares. Any ADR facility currently in
existence is “unsponsored” and has no ties whatsoever to Vivendi. Vivendi
disclaims any liability in respect of any such facility.
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