Lagardere SCA Announces Taking Legal Action Against Vivendi and Groupe Canal+ For The Restitution of EUR 1.6 Billion In Cash to Canal+ France


Wednesday, 13 Feb 2013 01:30am EST 

Lagardere SCA announced that In its capacity as a Canal+ France shareholder, Lagardere has summoned Vivendi and Groupe Canal+ to appear in the Paris commercial court on March 21, 2013, for the purposes of obtaining a restitution from the Vivendi group to Canal+ France of its cash, which amounted to close to EUR 1.6 billion on November 30, 2012. Lagardere SCA believes that the Vivendi group is making permanent use of Canal+ France‚Äôs entire cash surplus under a cash management agreement, the legality of which Lagardere SCA contests. 

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