9/12/2011 – Davis Polk is advising Canal+ Group in connection with a strategic partnership involving Bolloré’s free TV channels. The proposed agreement provides for Canal+ Group to acquire a stake of 60% in Bolloré Group’s television business, which includes the Direct 8 and Direct Star channels. This investment would be paid for with Vivendi shares. The total value (100%) of the assets is estimated at a maximum of €465 million. Canal+ Group would take over the operational management of the two channels and of their advertising sales division. This proposal is currently the subject of consultations with staff representative bodies and will be referred to the competent authorities for approval.
Canal+ Group is a leading pay-television company in France. Bolloré Group, also based in France, is a player in freight forwarding and international logistics, transportation and logistics in Africa, fuel distribution, dedicated terminals and systems, plastics, films, batteries and super-capacitors, electric vehicles, communication and media.
The Davis Polk corporate team includes partner Jacques Naquet-Radiguet and associate Julie Herzog. All members of the Davis Polk team are based in the Paris office.