By Giulia Petroni

Vivendi SE said Wednesday that it has accepted activist investor Amber Capital's offer to acquire its 17.93% stake in Lagardere SA.

The French media giant said it will offer 24.10 euros ($28.47) a share for the 25,305,448 shares held by Amber Capital.

The transaction, which is subject to regulatory approvals, is set to be completed by Dec. 15, 2022.

If the acquisition goes through, Vivendi will hold 45.1% of Lagardere's share capital and a mandatory proposal for a public offer for all of the company's remaining shares will be filed with the French market authority.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

September 15, 2021 13:10 ET (17:10 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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