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.
Write to Olivia Bugault at email@example.com
(END) Dow Jones Newswires
August 11, 2020 02:29 ET (06:29 GMT)
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