PARIS, FRANCE: Vivendi/Canal+ Group and TF1 have signed a definitive agreement relating to the sale of the 9.9 percent of the capital of Canal+ France owned by TF1. This agreement, the value of which is €744 million, should be completed at the latest on December 31, 2009.
On that date, Canal+ Group (which is wholly-owned by Vivendi) will increase its stake in Canal+ France from 65 percent to 75 percent.
The impact of this transaction, which was originally planned for the first quarter of 2010, has already been taken into account, for an identical amount, in Vivendi’s debt in respect of TF1’s put option held by TF1 since January 2007 in the context of the acquisition of TPS by Vivendi/Canal+Group.
An identical offer has been made to M6 for its stake of 5.1 percent of Canal+ France.
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