On Friday, the European Commission formally approved Vivendi’s long-planned acquisition of Lagardere, following the fulfillment of their “commitments” to sell the Editis publishing division, as well as the celebrity magazine Gala. Next, “The Commission will assess the suitability of buyers proposed by Vivendi in the context of a separate buyer approval procedure. Pursuant to the commitments, Vivendi can only implement the acquisition of Lagardère following the Commission’s approval of a suitable purchaser.” In April, Vivendi struck a put option agreement to sell Editis to Czech Republic-based International Media Invest. In March, based on preliminary offers to purchase Editis from multiple […]
