Arnaud Lagardère closes agreement to restore government
Arnaud Lagardère is approaching an alliance to overthrow the laws that have given him the power to control his well-known French group and the sales force in an effort to address the threats posed by the two billionth and terrorist group.
A French businessman plans to relinquish his so-called status to support The government’s plan, which was set up by his father when he set up Lagardère in 1992, in exchange for the 200m- € 250m, said people familiar with the matter. The program of to support gives him veto power over most corporate affairs even if he only owns a 7% stake.
Arnaud Lagardère was cornered by Vincent Bolloré, who used Vivendi, the company he directs, to make a 29% stake in Lagardère, and activist Amber Capital, who temporary disruption because change and has a 20% stake.
Trying to protect them, he signed a contract by billionaire Bernard Arnault last year, which led to LVMH’s employer joining 25% of his company’s management to support. This also provided Arnaud Lagardère with a large sum of money to pay for his services debt.
The program of a supportive approach from Arnault bought a temporary successor and intensified the fight for the company because it led to a rift between Vivendi and and Amber, as well as raising its price below the threshold before establishing a public offer option.
In recent weeks, talks between the parties have intensified to find a solution to the dispute, people familiar with the matter say. His sponsor was an annual general meeting held in June since Arnaud Lagardère re-launched an opposition campaign with a potential replacement for the board, said one of the protesters.
The terms of the agreement are that Arnaud Lagardère will receive the payment in exchange for agreeing to terminate Partnership Limited and shares (SCA) is a standard repair dissenting people. The existing share would have melted away. Lagardère has an extension section, three stadium seats, and a multi-year contract to make it bigger, people say.
Vivendi has three seats, while Amber, Arnault, and a long-time employee of the Qatar Investment Authority each hold one chair.
People warned on Sunday that the talks would continue and could end. A board meeting in Lagardère was expected on Monday and the next announcement was to be made.
If finalized, the agreement could open a new chapter for the company where Arnaud Lagardère would have to contend with those who have a majority stake on the board of director.
But he can speak of any kind of success because his party cannot be disrupted at this time, and the media, such as the Journal du Dimanche and the Paris Match magazine, is still in his hands.
Lagardère’s group was once one of France’s leading manufacturers of retail, security and automotive equipment, but was disrupted by retail in order to focus on two major issues: the world’s third-largest publisher Hat, and a real estate business that sells mail for sale and tax-free space at railway and airports.
Last year, various groups discussed a number of events including one in which the group would break up with Vivendi taking over Hachette and LVMH travel business. But Arnaud Lagardère says that he did not want to ruin the company and that the negotiations were in vain.