Altice, through its subsidiary Altice France, and Numericable-SFR announced that they have entered into the final agreements with Vivendi regarding the acquisition of the 20% stake Vivendi owns in Numericable-SFR, for a price of €40 per share, following the approval by Vivendi’s supervisory board of their offer dated February 17th, 2015.
Numericable-SFR will acquire half of Vivendi’s stake through a share buyback programme which will be submitted to a vote at the shareholders’ meeting of Numericable-SFR. The remainder of the Vivendi’s stake will be acquired by Altice France at the same time, with a payment to be made no later than April 7, 2016 and subject to an interest of 3.8% per annum.
The payment by Altice France of approximately €1.948 billion plus interest of 3.8% per annum has been secured by a bank guarantee.
The closing of this transaction is expected to occur in the days following the next shareholders’ meeting of Numericable-SFR, which will be held no later than April 30, 2015.