Vivendi has entered into an agreement with the Bolloré Group to purchase a 60 percent majority stake in Havas.
The purchase is valued at around 2.3 billion euros ($2.5 billion). The transaction is subject to the approval of competition authorities.
Havas is one of the world’s largest global communications groups, operating in more than 100 countries. The group is currently led by Yannick Bolloré as CEO.
Vivendi, led by CEO Arnaud de Puyfontaine, operates a range of media businesses, from talent discovery to the creation, production and distribution of content. Its Canal+ Group is engaged in pay-TV in France, as well as in Africa, Poland and Vietnam. Its subsidiary STUDIOCANAL is a leading European player in production, sales and distribution of movies and TV series.