PARIS – Vivendi, the parent company of Universal Music Group and Canal Plus Group, has acquired a 94.75% stake in Havas, a leading advertising and communication group that is listed on the Paris stock exchange.
Vivendi acquired an additional 150.34 million shares of Havas and now holds 94.75% of the company’s share capital and at least 94.73% of its voting rights. In June, Vivendi had acquired about a 60% stake in Havas from Bolloré Group, which is owned by Vincent Bolloré, Vivendi’s chairman, and his son Yannick Bolloré, who is the chief executive of Havas.
Vivendi and Havas are now expected to merge. Bolloré also said in June that Yannick Bolloré would eventually take the helm of Vivendi.
Headquartered in Paris, Havas operates in more than 100 countries and is believed to be the world’s sixth largest advertising and communication group.