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Vivendi — Vivendi Universal — Merger or Acquisition (February 2006)
8 slides from Vivendi's merger presentation, Feb 17, 2006
Slide 1: Draft agreement on the acquisition by Lagardere of a 20% stake in CANAL+ France
Vivendi Universal, CANAL+ Group, Lagardere: Draft agreement on the acquisition by Lagardere of a 20% stake in CANAL+ France IMPORTANT NOTICE: INVESTORS ARE STRONGLY URGED TO READ THE IMPORTANT LEGAL DISCLAIMER AT THE END OF THIS PRESENTATION
Slide 2: Acquisition by Lagardere of a 20% stake in CANAL+ France
Draft agreement on the acquisition by Lagardere of a 20% stake in CANAL+ France Acquisition by Lagardere of a 20% stake in CANAL+ France by: transferring its 34% stake in CANALSAT; buying additional shares in CANAL+ France from CANAL+ Group for an amount of €525 million in cash CANAL+ France will co
Slide 3: This transaction is the second step of the Pay-TV combination announced in December 2005
This transaction is the second step of the Pay-TV combination announced in December 2005 between Vivendi Universal, TF1 and M6 with the aim of creating a leader in the French broadcasting industry This transaction follows an industrial logic. It will allow: the full integration of 100% of CANALSAT w
Slide 4: Shareholding Structure
Shareholding Structure 100% 9,9% 5,1% 65% 20% CANAL+ France
Slide 5: Other Transaction Elements (1)
Other Transaction Elements (1) Lagardere will have a call option on an additional 14% stake in CANAL+ France: exercisable at market value with a floor value at €1,050m, corresponding to €7.5bn for 100% of CANAL+ France equity exercisable 3 years after closing of the transaction (simultaneously to th
Slide 6: Other Transaction Elements (2)
Preemption right: Vivendi Universal / CANAL+ Group have a preemption right over Lagardere's stake Over bidding right: Lagardere will have an over bidding right if Vivendi Universal / CANAL+ Group were to dispose one day of its stake in CANAL+ France Control: Vivendi Universal, via CANAL+ Group, will
Slide 7: Timing Elements
Timing Elements - Closing of the agreement Consultation with the representative labor relation bodies Notification of the transaction to anti-trust authorities Notification of change of ownership to the CSA (French Broadcasting Authority) Until closing, CANAL+ Group and TPS retain full autonomy Expe
Slide 8: Forward-looking statements disclaimer
This presentation contains 'forward-looking statements' as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a
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