As previewed earlier in the week, Arnaud Lagardere and the principal shareholders in Lagardere have reached an agreement that would end the special corporate structure under which Mr. Lagardere has controlled the company, despite owning only 7 percent of the public shares. Lagardere’s holding company is “relinquishing their rights” in exchange for 10 million new shares in the public company — worth a little over 230 million euros at current prices, and doubling their current stake after the dilution — and he will serve as chief executive for the duration of his current six-year term as a board member. While […]
