The new spin-off company created by Vivendi, the Louis Hachette Group, started trading in France on Monday morning. The stock was priced at €1.12 per share, giving the company an initial market capitalization of €1.11 billion–though shares jumped at the open, trading above €1.40 per share during the morning. The group comprises Vivendi’s controlling share in Lagardere, which still trades on its own, as well as Prisma Media. The value of the new spinoff seems modest, however, given that Lagardere on its own has a market cap of almost €3 billion.
Finance
Vivendi Spin-Off Plan Is Approved, and Lagardere Stake will Trade As Louis Hachette Group
Vivendi shareholders approved the company’s plan to break up the conglomerate into multiple parts, with new stock listings later this month for the Canal+ broadcasting assets, the advertising agency Havas, and a newly-named Louis Hachette Group. That Louis Hachette Group will comprise Vivendi’s controlling 66.5 percent stake in Lagardere (which includes both Lagardere Publishing as well as the big travel retail division), alongside Prisma Media, France’s leading magazine publisher. The Bolloré Group, which currently controls Vivendi, will own roughly 31 percent of the Louis Hachette Group, which will begin trading on the Euronext Growth (Paris) stock exchange on December 16, […]
Crown Acquires Compendium
Crown Publishing Group has acquired illustrated and gift book publisher Compendium, which will become an imprint of Ten Speed Press. The details of the deal were not disclosed. According to a release, Compendium will “retain its own distinct editorial identity and continue to lead the creation and promotion of the Compendium portfolio.” Kobi Yamada becomes president, Compendium, “working closely as a partner and creative liaison to Ten Speed Press.” Jim Darragh is now Compendium svp, finance and operations and chief marketing officer Renee Holmes becomes Compendium associate deputy publisher. EVP, publisher of Clarkson Potter and Ten Speed Press Aaron Wehner […]
Human Kinetics Acquires Lotus Publishing
Health and sports publisher Human Kinetics has acquired UK illustrated books publisher Lotus Publishing. Lotus’s list of about 50 health and anatomy titles will become an imprint at HK titled Lotus Books. Lotus founder Jon Hutchings “will continue to work with authors and develop new books for the imprint in 2025 to help ensure a smooth transition,” according to a release. Lotus’s existing co-publishing agreements with North Atlantic Books and Inner Traditions will continue for backlist titles, and new titles will be distributed solely by HK.
Small Investor Tries to Block Vivendi’s Plan to Split Itself Up
Ahead of a planned December 9 shareholders’ meeting, Vivendi announced that CIAM, an investor holding a very small position (a 0.025 percent stake), has filed suit to try to block their plan to divide the conglomerate into four separate companies. A hearing is scheduled before the Paris Commercial Court on December 4, for arguments on both an expedited suit looking to block the spin-off project, as well as an appeal of a November ruling from France’s market authority (AMF) finding that the spin-off plan does not trigger a mandatory buyout offer. As a result, the December 9 meeting and vote […]
Harper Germany Acquires Gräfe und Unzer
Harper Collins Germany will acquire guidebook publisher Gräfe und Unzer from Ganske, subject to regulatory approval. GU, which has operated for more than 300 years, will continue to be based in Munich under the Harper Collins umbrella, which will also take on the company’s distribution business, ISP Isar Sales Partner. According to a release, the acquisition more than doubles Harper’s German business, and expands its portfolio to include cookbooks, self-help, health, gardening, travel, and more. “Germany is one of our strongest markets in the international portfolio and one where we see tremendous growth opportunities. This acquisition will allow us to […]