Vivendi Se · EURONEXT:VIV
Vivendi — Merger or Acquisition (May 2017)
10 slides from Vivendi's merger presentation, May 11, 2017
Slide 1: Construction of a Global Content, Media and Communication Leader
May 2017 CONSTRUCTION OF A GLOBAL CONTENT, MEDIA AND COMMUNICATION LEADER
Slide 2: Transaction objective
Transaction objective The objective of this transaction is to build a global leader in content, media and communication with a unique positioning in entertainment and communication May 2017 2
Slide 3: Strategic rationale
Strategic rationale • Industry under transformation: multiplication of available offers and convergence between content, distribution and communication • Appropriate timing for Vivendi, corresponding to a new development phase following the consolidation of its foundations / business lines • Access
Slide 4: Two global players with attractive prospects in growing industries
Two global players with attractive prospects in growing industries €10.8bn sales and €853m income from operations in 2016 (7.9% margin), €2.3bn sales and €329m income from operations in 2016 (14.5% margin), net cash position of €1.1bn , 22,600 employees, 60 countries net cash position of €149m, 20,0
Slide 5: A value-creating convergence between content, distribution and communication
A value-creating convergence between content, distribution and communication Media, Content, Entertainment Proprietary IPs Premium content, multi-platforms Customer experience (unarticulated needs) Unique client knowledge and consumer expertise Sustainable access to valuable database Imp
Slide 6: Vivendi and Havas at the center of the convergence between content, distribution and communication
Vivendi and Havas at the center of the convergence between content, distribution and communication Contents / / / + (1) (3) LNEI(2) Communication Distribution / Telcos (1) Minority investments (2) Les Nouvelles Editions Indépendantes May 2017 6 (3) Ongoing transaction
Slide 7: A beneficial acquisition for both parties already partners
A beneficial acquisition for both parties already partners Backed by a large international media group Havas' expertise: consumer science, data management and new creative formats Unique access to premium contents and the creative capabilities of Vivendi's talents Better customers’ knowledge
Slide 8: Reinforced integration across the group
Reinforced integration across the group Content Distribution Producers / rights owners Aggregators Platforms Access / Infrastructure Communication / Consumer Science / Monetization Music Games Video Telcos (*) • Moving from collaborative initiatives to industrialized integrated processes • Objective
Slide 9: Contemplated transaction
Contemplated transaction • Cash acquisition by Vivendi of the 59.7% block of Havas owned by the Bolloré Group − Price(1) of 9.25 euros per share at closing offering a 8.8% instant premium over the closing price on May 10, 2017 − Factoring in the detachment of the €0.18 per share dividend, the share
Slide 10: Important legal disclaimers
IMPORTANT LEGAL DISCLAIMERS NOT FOR PUBLICATION, DISSEMINATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, ITALY, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR DISSEMINATION IS UNLAWFUL OR WOULD SUBJECT VIVENDI TO ANY LEGAL OBLIGATIONS This prese