French Court Rejects Vivendi, Amber Capital Request for Lagardere EGM

   By Olivier Pinaud and Mauro Orru 
 

The Paris Commercial Tribunal rejected requests from French media giant Vivendi SA and activist investor Amber Capital to call an extraordinary general meeting of Lagardere SCA's shareholders, according to a ruling document seen by Agefi-Dow Jones.

The court decision came as Lagardere's main shareholders Vivendi and Amber Capital hoped to elect four representatives to the media company's supervisory board through this shareholders' meeting.

"Vivendi remains confident in the merits of its case and will appeal against this decision," the company said in a statement Wednesday.

Vivendi and Amber Capital signed a pact in August to seek minority representation on Lagardere's supervisory board, which rejected the request to hold an extraordinary general meeting.

Amber Capital tried replacing members on Lagardere's supervisory board at the company's ordinary shareholders' meeting in May, but shareholders rejected all 15 resolutions from the activist investor.

This story was translated in whole or in part from a French-language version initially published by L'Agefi-Dow Jones.

Write to Olivier Pinaud at [e-mail] and Mauro Orru at [e-mail]

(END) Dow Jones Newswires

October 14, 2020 12:24 ET (16:24 GMT)

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