Lagardère: partnership with Arnault family finalised
(CercleFinance.com) - The Arnault and Lagardère families have finalised their partnership announced on 25 May 2020.
Through its subsidiary Financière Agache, Groupe Arnault now holds a stake representing approximately 27% of Lagardère Capital & Management capital (renamed Lagardère Capital), which holds 7.26% of the capital and 11.00% of the voting rights of Lagardère SCA and 99.88% of Arjil Commanditée - Arco, managing general partner of Lagardère SCA.
Groupe Arnault has similarly acquired a direct stake in Lagardère SCA and holds over 5% of its capital.
Groupe Arnault's investment, which was approved by Lagardère SCA's Supervisory Board on 24 May 2020, does not entail any change in control of Lagardère Capital and Arjil Commanditée - Arco, the group said.
Groupe Arnault will have one of the four seats on Arjil Commanditée - Arco's Board of Directors. The concert currently holds 12.77% of the company's capital and 15.19% of its voting rights.
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