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Mergers & acquisitions

Altice Bids €3.9B for Remaining Numericable-SFR Stake

Altice, through its subsidiary Altice France, and Numericable-SFR have delivered to Vivendi SA, on February 17th 2015, an offer to purchase the 20% stake Vivendi owns in Numericable-SFR, for a price of 40 euros per share.

Numericable-SFR, will acquire half of Vivendi's stake through a share buyback programme which would be submitted to a vote at a general assembly of Numericable-SFR shareholders; And half will be acquired by Altice France at the same time, with a payment to be made no later than April 7th 2016 and subject to an interest of 3.8% per annum. The payment by Altice France of approximately € 1.948 billion plus interest of 3.8% per annum has been secured by a bank guarantee. The Numericable-SFR purchase and the Altice purchase will both close in the days following the Numericable-SFR General Assembly Meeting, which would be held no later than April 30th 2015.

The implementation of this transaction is subjectt to Supervisory Board approval at Vivendi SA, and would lead to adjustments to previous agreements, would put an end to the existing shareholder agreement between Altice and Vivendi and also to several financial arrangements between the parties.

Altice

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