The global advertising group Havas, and the other parts of Vivendi, will operate as independent entities after shareholders unanimously voted to break up the media conglomerate.
This also includes the French pay TV company Canal+ Group and publishers Louis Hachette in a plan that was first mooted this time last year.
On Monday, more than 97 per cent of shareholders voted in favour of a break up, with the different component parts planning to go public on various stock exchanges.
Havas, the advertising group that comprises Havas Media, Havas Host, Red Havas, Havas play and several other agencies, will list on Amsterdam’s Euronext stock exchange from 16 December. Havas expects to offer its staff up to €45m ($74.3m) in share awards and bonuses after it lists.
Havas chairman Yannick Bolloré said: “The decision to seek an independent listing for Havas marks an exciting new chapter for our Group. This milestone underscores our commitment to long-term growth and value creation and would provide added flexibility to support the implementation of our converged strategy.
“It would also allow the Group to more swiftly pursue innovation efforts and targeted acquisitions thanks to increased agility. Today, we present our vision to continue evolving as a world leader in the communications and marketing sector, supported by a robust financial foundation and a talented team.”
Havas employs more than 23,000 people in 100 countries and serves more than 4,000 clients. In 2023, the group reported net revenues of about €2.7bn ($4.46bn).
In its prospectus document, Havas said that by listing it expects to gain strategic flexibility to pursue growth in high-potential sectors and further solidify its position as a leader in the global communications landscape.
“This increased agility is also expected to allow the Group to facilitate its strategy of investments in AI, data, and advanced technologies, with the goal of enhancing campaign effectiveness and delivering even more personalised and impactful client solutions. The Group also intends to leverage strategic acquisitions and continue evolving to meet the changing demands of clients worldwide through its Converged strategy,” the prospectus document said.
Havas also noted that it will be a smaller and less diversified group than under Vivendi ownership, and may not have access to finances that it currently has through Vivendi.
