The registration document for the IPO of pay-TV company Canal+ France has been submitted to the French financial markets regulator AMF.
Lagardere group, which holds 20% of Canal Plus France, said last year that it would list its DTH provider in Spring…
The registration document for the IPO of pay-TV company Canal+ France has been submitted to the French financial markets regulator AMF.
Lagardere group, which holds 20% of Canal Plus France, said last year that it would list its DTH provider in Spring 2011.
The listing on the NYSE Euronext in Paris is expected to take place at the beginning of April. Lagardere is reportedly advised by BNP Paribas and JPMorgan and Vivendi by Nomura and Societe Generale.
Canal+ France posted about E4bn revenues, 20% operating margin and E357m attributable net profit in 2010. At the end of last year, it had 3,365 employees.
Group Canal+, a fully-owned subsidiary of Vivendi, holds 80% of Canal Plus France.
Under a 2007 shareholder agreement, Lagardere has a put an option to sell its 20% holding in Canal + to Vivendi between 15 March and 15 April every year until 2014 or list it if Vivendi refuses to buy it.
Last year, Lagardere’s CFO Dominique d’Hinnin said that Vivendi did not respond to a price proposal made by his company.
The 20% stake has been valued at about E1bn.
