Vivendi combines with Fnac – The Point

Vincent Bolloré continues to invest in all directions. His group, Vivendi, decided to enter the capital of Fnac (Artemis property holding company of François Pinault, who also owns Le Point Ed). This is a minority interest of 15% (an investment of € 159 million), as part of a “strategic partnership” based on “the development of cultural content”, said the two groups in a statement.

It will include “the development of cultural contents from for example through distribution partnerships,” or cooperation “on the ticket in some countries.” This partnership is also aimed at “accelerating the international development of the Fnac group, particularly in Southern Europe and Africa where Vivendi is present for more than 20 years.”

Fnac claims to be the first bookstore in France, with its 114 stores. “The entrance of Vivendi capital Fnac Fnac will equip additional resources to implement its development plans and acquisitions,” is he said. In detail, the completion of the reserved capital increase “remains primarily subject to shareholder vote at the next general meeting of Fnac and the issuance by the AMF of its visa on the prospectus for admission” .

Vincent Bolloré to maneuver

Fnac has also “committed” to propose the appointment of two directors representing Vivendi in its board of directors. It is specified that Artemis, the holding company of the Pinault family, “retain its role as shareholder with 33% of capital and reaffirms its full support to the strategic development of Fnac.” In 2015, Fnac posted growth of its profits to 48 million euros (+ 16.7%) and reached almost stabilize its sales to 3.87 billion euros, driven by the growth of its business in France and despite the crisis in Brazil. The group of Alexandre Bompard has recently suffered a setback in his attempt to buy the appliances Darty group, for which the furniture group Conforama has a superior offer.

Meanwhile, Vincent Bolloré has increased in recent months maneuvers to strengthen Vivendi in France and Europe: increased stake in Telecom Italia, the video game publisher Ubisoft, or a takeover of its sister company Gameloft. And Friday, the group – which has a market capitalization of around 25 billion euros – announced a “strategic partnership” with the Italian Mediaset, owned by tycoon Silvio Berlusconi, through an exchange of cross shareholdings 3.5% .