The Vivendi group, controlled by Vincent Bolloré, continues its media bulimia: it announced on Wednesday the repurchase of Amber Capital’s shares in Lagardère and intends to launch in the wake of a takeover bid on the group, which owns in particular Hachette, from Europe. 1 and the newspapers JDD and Paris Match. What is the relationship with Racing de Lens?
Sale of Amber shares to Bolloré for € 610 million
The president and majority shareholder of the artesian club, Joseph Oughourlian, is also the founder of the Amber fund, which will therefore sell to Vivendi the 18% of the Lagardère group it owns. According to Reuters, the transaction will be completed by December 15, 2022 at a price of 24.10 euros per share, for a total of 610 million euros.
The operation is subject to the green light of several authorities, including the Superior Audiovisual Council and the European Commission, due to the risks of concentration in the publishing and media sectors. Indeed, the giant Vivendi, which will separate next Tuesday from its goose that lays golden eggs Universal Music, wishes to refocus on the media with the Canal + group (C8, CNews) or the Prisma Media magazines.
Joseph Oughourlian has already invested 70 million euros in RC Lens
The British fund Amber Capital, initiator in 2018 of the rebellion against the governance of Lagardère, joined forces with Vivendi in August 2020 by signing an agreement that included a right of first offer and reciprocal pre-emption. The fight launched by Joseph Oughourlian’s fund recently took a new judicial turn with the opening in April of a judicial investigation by the national financial prosecutor, which led Wednesday morning to the search of the Parisian headquarters of Lagardère.
The Amber Capital fund has assets under management for 1.1 billion euros. In a portrait dedicated to Joseph Oughourlian in April 2020, Le Monde described Amber as ” a small boutique nevertheless active and respected “. It is in his name and not with Amber that Joseph Oughourlian invests in Racing. He has already invested 70 million euros since his arrival in May 2016. “ We have already exceeded the limit that I set for myself “, He explained in an interview with the Voice of Sports in August.