Fininvest has acquired 5% of the share capital of Mediaset held directly by Vivendi.
The transaction was at a price of €2.70 a share, or around €160 million, taking into account the ex-dividend date and the dividend payment, which took place on July 19 and July 21 respectively. It also marks the closing of an agreement that finally puts an end to a long-running dispute between the parties.
As part of their agreements, Vivendi has undertaken to sell in the market progressively the entire 19.19% stake in Mediaset held by Simon Fiduciaria over a period of five years.
Fininvest will have the right to purchase any unsold shares in each 12-month period, at the established annual price.