Lagardère: to convert to a joint-stock company

(CercleFinance.com) - Lagardère SCA has announced that its supervisory board has approved the proposal presented by Arnaud Lagardère to submit to the general meeting of 30 June a proposal to convert the company into a joint-stock company.


The group specifies that the main investors in Lagardère SCA have agreed to vote in favour of the deal, with Lagardère and Amber Capital having agreed to terminate their legal disputes. Their will be continuity of management around Arnaud Lagardère, who would be appointed Chairman and CEO, with Pierre Leroy, deputy CEO.

As consideration for relinquishing their rights, the General Partners would be allocated ten million new shares. The proposed conversion is subject to obtaining an exemption from a tender offer from the AMF.


Copyright (c) 2021 CercleFinance.com. All rights reserved.