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    AIR   NL0000235190

AIRBUS SE

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Real-time Quote. Real-time Euronext Paris - 10/27 11:35:22 am
110 EUR   +0.05%
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Lagardere share price jumps 20% after Vivendi increases stake

09/16/2021 | 03:56am EDT
FILE PHOTO: The logo of French media group Lagardere is seen during the groups annual general meeting in Paris

PARIS (Reuters) - Shares in France's Lagardere surged 20% on Thursday after media group Vivendi said it would buy another stake in the company, paving the way for a full takeover.

Canal+ owner Vivendi, which already owns 27% of Lagardere, said it had agreed to buy Amber Capital's 17.9% holding for 24.10 euros per share, or about 610 million euros ($718.95 million).

Vivendi said it would later launch a full bid at the same price once it has passed the 30% threshold requiring companies in France to make a takeover offer.

"We believe Vivendi is primarily interested in Lagardere's International Publishing business which would bring scale, synergies & savings to Editis", analysts at JP Morgan said in a note.

They also said that Vivendi would likely seek to sell the travel retail business to fund the acquisition.

If successful, the acquisition of Lagardere will mark the end of what was once one of France's national industrial champions, which under its late founder used to have large stakes in companies like plane maker Airbus.

Heir and Chief Executive Arnaud Lagardere has sold off parts of the conglomerate bit by bit. Last year he brought in investors like Vivendi and luxury goods tycoon Bernard Arnault when he was trying to fend off an activist campaign by Amber Capital.

($1 = 0.8485 euros)

(Reporting by Matthieu Protard, Sudip Kar-Gupta and Marc Angrand; Editing by David Goodman and Emelia Sithole-Matarise)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE 0.05% 110 Real-time Quote.22.45%
BOLLORÉ SE -0.50% 5.025 Real-time Quote.49.32%
LAGARDÈRE S.A. 0.00% 22.66 Real-time Quote.10.64%
LVMH MOËT HENNESSY LOUIS VUITTON SE -0.11% 664.3 Real-time Quote.30.16%
VIVENDI SE -0.45% 11.05 Real-time Quote.-57.92%
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Financials
Sales 2021 52 710 M 61 159 M 61 159 M
Net income 2021 2 778 M 3 223 M 3 223 M
Net cash 2021 5 850 M 6 788 M 6 788 M
P/E ratio 2021 28,0x
Yield 2021 0,76%
Capitalization 86 436 M 100 B 100 B
EV / Sales 2021 1,53x
EV / Sales 2022 1,31x
Nbr of Employees 126 050
Free-Float 74,1%
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Number of Analysts 21
Last Close Price 110,00 €
Average target price 139,61 €
Spread / Average Target 26,9%
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Managers and Directors
Guillaume Faury Chief Executive Officer
Dominik Asam Chief Financial Officer
RenÚ Richard Obermann Chairman
Sabine Klauke Chief Technical Officer
Alberto Jose Gutierrez Moreno Chief Operating Officer
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