Vivendi : Amber Capital Agree to Seek Minority Representation at Lagardere Supervisory Board

By Olivia Bugault

Vivendi SA said Tuesday that it signed a pact with activist investor Amber Capital that includes seeking a minority representation at Lagardere SCA's supervisory board.

"Vivendi and Amber Capital, respectively the first and second largest shareholders of Lagardere with 23.5% and 20% of the share capital, will initiate steps in this framework with Lagardere to each seek a minority supervisory board representation of three members for Amber Capital and one member for Vivendi," French media group Vivendi said.

Vivendi and Amber Capital also entered into a five-year reciprocal first offer and pre-emption rights agreement on their Lagardere shares, it said.

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