Hurry: French group Vivendi buys 7.6% of the company for 52 million


The communication and entertainment group Vivendi confirmed yesterday that it has entered the shareholders of Prisa with the acquisition of 7.6% of its capital for 52 million euros. The French company has acquired almost all of the shareholdings it owned in Prisa (7.9%) the British bank HSBC, which thus leaves the ownership of the group that controls the newspaper El País, La Ser or the sports asS, among other media.

According to the communiqué sent yesterday to the National Securities Market Commission (CNMV), the transaction was closed with HSBC's sale of all its securities at the closing price of the Shares of Prisa on Thursday, that is, at 0.93 euros per share.

The stock market celebrates the acquisition and shares of the Spanish media group rise by almost 10%

The prisa communiqué states that Vivendi has defined this investment as "strategic" and ensures that it "is part of its policy of strengthening as a large group of content, entertainment and media, strengthening its presence in the Spanish market in Europe, Latin America and the United States".

The stock exchange celebrated the operation with a rise of the titles of Prisa close to 10%. From Prisa, the new partner was also warmly welcomed because, according to its vice president and council president, Joseph Oughourlian, "Vivendi's investment provides the strength and security needed for Prisa's future project and provides a major new ally to successfully carry out those plans."

Beyond business strategy, the operation has a great corporate draft. Vivendi and Amber Capital, the investment fund that controls 29.8% of Prisa, are already partners in the French media company Lagardére. Her presence in Prisa further strengthens Amber's power after the fund forced the change in the presidency at the shareholders' meeting in December. Then, with the support of Telefónica, Amber forced the departure of Javier Monzón, who had the support of Banco Santander, also a shareholder in Prisa and who is now in a weaker position.

Along with the change in the presidency, Prisa addressed a renewal of its board of directors, in which Javier Santiso and Rosauro Varo have entered the category of independents.

The French conglomerate Vivendi has 44,000 employees worldwide in companies such as Universal Music Group, Grupo Canal+, Editis, Gameloft and Havas. In Spain it operates ticketing services, owns the television production company Bambu Producciones, and one of its largest video game production studios is headquartered in Barcelona. In the first nine months of 2020 Vivendi invoiced 11,598 million euros.


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    Thursday, March 28, 2024