Publicis Groupe buys shares from Badinter family

MUMBAI: French advertising group Publicis Groupe has bought back 2.4 million of its own shares for a sum of EUR 175,775,861 (at EUR 73.03 per share) from the Badinter family as it prepares to pay back early a convertible bond known as the ORANE 22.

This transaction will bring down the holding of Elisabeth Badinter and her family group from 8.67 per cent to 7.58 cent of the share capital and from 15.87 cent to 13.88 cent of the voting rights. Elisabeth Badinter remains the first shareholder in the company.

This transaction is part of the buy-back program approved by the General Shareholders Meeting held on 28 May, 2014 and the repayment ahead of schedule of the ORANE 2022 approved by the Supervisory Board and announced on 15 September, 2014. 12,684,487 shares are required for this repayment. One half will be taken from shares currently held by the company, and the other half (6,342,244 shares) will be acquired.

The shares bought from the Badinter family will be used to cover the debt securities giving access to equity capital in order to proceed with the early repayment of the ORANE 2022. The balance of 3,395,371 shares will be acquired in the market.

The Supervisory Board meeting held on 12 March, 2015 examined the proposal to buy back part of the shares held by Elisabeth Badinter and her family, and concluded that the acquisition of this block of shares was in the best interests of the company and its shareholders. Consequently, it unanimously approved this transaction; the Board members personally concerned abstained from taking part in the discussion and vote.

The price of the transaction represents a discount of two per cent from the weighted average share price over the previous five trading days and of 4.5 per cent with respect to the closing price of EUR 76.47 on 16 March, 2015.

The share buy-back is financed by Publicis Groupe's available cash resources.

Publicis Groupe welcomes this transaction, which enables the company to control changes in its shareholding structure without affecting its financial structure, while at the same time ensuring the early repayment of the ORANE, which will have a relative effect on the net profit per share on a fully diluted basis of around 2.4 per cent on a full year. The early repayment of the ORANE will be submitted to the Shareholders’ meeting of the company, which will take place on 27 May, 2015.

Latest Reads
Kundan Gold Refinery launches campaign for gold coins

MUMBAI: Gold has deep routed significance in the Indian culture, its traditions and is an integral part of religious connotations. It holds an auspicious status in Indian marriages and considered to bring blessings of Goddess Lakshmi for the bride and groom. Therefore, people are more conscious and...

MAM Marketing MAM
Britannia Good Day's new campaign relishes the Good Day bond

MUMBAI: Staying true to the brand’s purpose of spreading optimism and cheer, Britannia Good Day has taken an initiative to provide its value offerings by launching the premium cashew variant at a value price point of Rs 5 through a campaign #AbIndiaSmileKarega.

MAM Marketing MAM
Twinkle Khanna joins Kohler as ambassador

MUMBAI: Kohler Company, the global leader in kitchen and bath industry, partnered with interior designer, author and former Bollywood actress Twinkle Khanna for its latest campaign, ‘Colours by Kohler’. The campaign is meant to inspire people to bring colours in the bath space with confidence...

MAM Media and Advertising People
Piramal promotes super loans in latest campaign

MUMBAI: Piramal Housing Finance has launched a series of TVCs to promote super loans by the company. Piramal Housing Finance head of sales and marketing Mayank Jain says, “Tagvinnatti team has been a delight to work with. Along with their remarkable servicing skills, they bring rich experience and...

MAM Media and Advertising Ad Campaigns
HSBC's global media business moves to Omnicom's PHD from WPP

MUMBAI In a major blow to WPP, HSBC Bank has handed over its global media business to Omnicom’s PHD. The agency won the business following a review which began in January along with Mindshare and Dentsu. In a press statement, HSBC said, “We have selected PHD as our preferred media planning and...

MAM Marketing MAM
Treebo appoints Nishant Gupta as head of brand & marketing

MUMBAI: Treebo Hotels, a budget hotel chain, has appointed Nishant Gupta as the head of brand and marketing. It has an inventory of 10,000 rooms and 400 hotels in over 85 cities. Gupta is a marketing professional with over 10 years of experience in brand and category building. At Treebo, he will...

MAM Media and Advertising People
IndiaMART assigns communication mandate to Happy Mcgarrybowen

Online marketplace IndiaMART that connects buyers and suppliers, has assigned its communication mandate to Happy mcgarrybowen. The agency, from the house of Dentsu Aegis Network, won the account following a multi-agency pitch.

MAM Media and Advertising Account
Goodknight puts an end to coils with new power chip

Household insecticide brand, Goodknight, has launched its latest innovation ‘Goodknight Power Chip’. Its new television commercial understands the emotions of a mother and her plight to protect her family from the mosquito menace.

MAM Media and Advertising Ad Campaigns
Kalyan Jewellers brings Shweta Bachchan on board

After having Amitabh Bachchan and Aishwarya Rai-Bachchan as brand ambassadors for the longest time, jewellery brand, Kalyan Jewellers, has roped in Shweta Bachchan Nanda as an influencer. She will feature in the brand’s latest TV campaign along with her father Amitabh Bachchan, who has been Kalyan...

MAM Media and Advertising People

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories