Vivendi/Canal+ Group, a unit of France's Vivendi SA (VIVEF.PK), said that it has agreed to acquire the 9.9% of the capital of Canal+ France owned by TF1.
The agreement, which is valued at EUR744 million, should be completed at the latest on December 31.
After the deal is completed, Canal+ Group will increase its stake in Canal+ France from 65% to 75%. The impact of this transaction, which was originally planned for the first quarter of 2010, has already been taken into account, for an identical amount, in Vivendi's debt in respect of TF1's put option held by TF1 since January 2007 in the context of the acquisition of TPS by Vivendi/Canal+Group.
An identical offer has been made to M6 for its stake of 5.1% of Canal+ France, the company noted.
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