France's business elite closed ranks around publishing group Lagardere on Monday with LVMH's Bernard Arnault and Vivendi's Vincent Bollore swooping in to bolster its defences against London-based hedge fund Amber Capital.
) Vincent Bollore swooping in to bolster its defences against London-based hedge fund Amber Capital.
Arnault, France’s richest man, agreed to buy a 25% stake in Lagardere Capital & Management , the personal holding company of Arnaud Lagardere, shoring up its finances after its debts exceeded the value of its 7.3% stake in the Lagardere Group. Although he owns only 7.3% of the Lagardere Group, Arnaud Lagardere controls it via a so-called “commandite” governance structure, a hybrid between a partnership and a limited liability company which means shareholders cannot remove him as general partner.Bollore already owned more than 13% of Lagardere SCA via Vivendi and analysts speculated that he and Arnault may be eying assets of Lagardere, owner of Hachette, the world’s third largest book publisher, with authors such as Donna Tartt.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
French government's crisis measures have cost 450 billion euros - finance ministerFrench government measures to prop up the economy through the coronavirus crisis have cost 450 billion euros ($490 billion), the equivalent of 20% of GDP, the finance minister said on Monday.
Lire la suite »
French coronavirus cases see lowest 24-hour rise since lockdownThe number of confirmed new coronavirus infections in France increased by 115, or 0.1%, to 144,921 on Sunday, the lowest daily increase since the country went into lockdown on March 17, the health ministry said in a statement.
Lire la suite »
French state debt could be over 115% of GDP by year end - budget ministerFrance's state debt to gross domestic product (GDP) ratio is set to increase to more than 115% by the end of the year due to the cost of coronavirus crisis measures, Budget Minister Gerald Darmanin said in an interview with TV station RTL on Sunday.
Lire la suite »
This French Photographer Illustrates Wastefulness Like You've Never Seen'For me it was important to have people in the picture because it also gives a scale to the amount of waste that we produce.'
Lire la suite »
French Open organizers working with authorities to avoid U.S. Open clashFrench Open director Guy Forget said he was working hand in hand with tennis authorities to make sure the dates of the claycourt Grand Slam tournament and those of the U.S. Open do not clash, adding that Flushing Meadows would make an announcement next month.
Lire la suite »
A woman was attacked and killed by her French bulldog mixA woman was mauled to death by her pet French bulldog mix in her home, officials say
Lire la suite »