Vivendi Gets European Commission’s Approval to Acquire French Media, Publishing Giant Lagardere
Elsa Keslassy International Correspondent Vivendi, the parent company of Canal+ Group, has received the green light from the European Commission to proceed with the acquisition of Lagardère, the French media, publishing and travel retail conglomerate. This European Commission has given its approval under Vivendi’s two proposed commitments, starting with the sale of 100% of the share capital of its publishing group Editis, as well as the full sale of Gala magazine. Vivendi said it expects to close both deals by the end of October. It entered into exclusive negotiations to sell Editis to a subsidiary of Czech Media Invest (CMI) founded by Daniel Kretinsky, in March. With the acquisition of Lagardère group, Vivendi’s payroll will rise to 66,000 employees compared to 38,000 at the end of December 2022, with a stronger presence in key markets such as France, the U.K., Spain and the US.