Vivendi in Closing of Global Settlement Agreement With Fininvest and Mediaset
July 22, 2021
Cleary Gottlieb represented Vivendi in the closing of its global settlement agreement to end all pending litigation with Fininvest and Mediaset.
The agreement was announced on May 3, 2021, and closed on July 22, 2021
Among other things, Fininvest and Mediaset waived all claims against Vivendi, and Fininvest acquired a 5% stake in Mediaset from Vivendi at a price of €2.70 per share (following the distribution of an extraordinary dividend of €0.30 per share). Vivendi retains a 4.6% interest in Mediaset and has committed to sell on the market the 19.19% stake in Mediaset held through Simon Fiduciaria within a period of five years.