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Orange entered into exclusive negotiations with Vivendi regarding the sale to Vivendi of an 80% stake in Dailymotion, the world’s second largest online video-sharing platform.
Communiqué M&A Real Estate and Construction Private Equity Environmental Law | 09/04/15 | 1 min. | Julien Aucomte Pierre Descheemaeker
Orange entered into exclusive negotiations with Vivendi regarding the sale to Vivendi of an 80% stake in Dailymotion, the world’s second largest online video-sharing platform.
On April 7, 2015, Orange’s Board of Directors accepted Vivendi’s proposal to enter into exclusive negotiations within the framework of the sale of an 80% stake in Dailymotion, based on an enterprise value of EUR 265 million. During such exclusive negotiations, the parties will be required, inter alia, to finalize the final terms of the operation which will be subject to information-consultation of their respective workers councils.
The purpose of this operation is to provide Dailymotion with a strategic partner enabling it to accelerate its growth in order to make it one of the largest global on line video-sharing platform.
August & Debouzy, with a team composed of Julien Aucomte and Pierre Descheemaeker, Partners, as well as Julien Wlodarczyk, Aurélien Veil and Laura Favier, advised Orange on this operation.
Bompoint Avocats, with a team composed of Dominique Bompoint, Partner, Charles de Real and Louis-François Gueret, as well as Darrois Villey Maillot Brochier, Marcus Billam, Partner, Jean-Baptiste de Martigny, Counsel, and Cécile de Narp, advised Vivendi.