As a period approaching which he feels is "difficult", the Breton billionaire has notably ruled out any "complicated" project aimed at "merging or simplifying" the succession of holding companies which ensure control of his group, but also weigh on its valuation.

The modification approved on Wednesday, at two successive general meetings, of the statutes of the "Compagnie de l'Odet", flagship of the family, and of the Bolloré group, to allow the distribution of "goods in kind, including financial securities ", was according to him only "purely formal".

"There is no project of any kind concerning the distribution of assets by Odet", he assured.

This financial company, which owns some 64% of the Bolloré group, has however taken advantage in recent weeks of the dividends received from its subsidiary to strengthen itself by buying a little more than 1% of the shares of Bolloré, for nearly 150 million euros. euros.

– Pessimistic –

What purpose ?

"Rather for lack of imagination than absolute confidence in the future value of shares," quipped Vincent Bolloré, who was more pessimistic than usual.

The Bolloré group, heavily deleveraged, nevertheless generated a record profit last year.

It has benefited greatly, within its logistics activities, from the rise in the cost of transporting goods, on which it takes a commission, and from the surge in oil prices following the war in Ukraine, which it transports also.

But "the situation will probably be much more difficult than people think" and the second half looks "more complicated", warned Vincent Bolloré.

Yannick Bolloré in April 2019 in Paris ERIC PIERMONT AFP/Archives

Among his possible projects, some analysts suggest that he could try to strengthen his position at Vivendi, of which he holds just under 30%, by using the abundant cash of the group that owns Canal + or the proceeds from the sale of its activities. of African logistics (5.7 billion euros), which should take place before the end of the first quarter of 2023.

His son Cyrille, head of the Bolloré group, is also studying acquisitions in freight forwarding, a sector where the group hopes to reach the top 5 in the world.

Finally, Vivendi will also continue its takeover bid for Lagardère, of which it now owns some 55% after the first phase of its takeover bid.

"This is a historic date for the Lagardère group, for myself and my family", noted in a press release Arnaud Lagardère, who retains his seat as CEO and 11% of the capital of the industrial empire founded by his father, Jean-Luc, who disappeared in 2003.

The outcome of this operation remains subject to the authorization of several authorities, including the European Commission, which could impose "remedies" to validate the marriage between the publishers Editis and Hachette, and Arcom (ex-CSA), which must decide on the takeover of Lagardère's radio stations (Europe 1, Virgin Radio and RFM).

Arnaud Lagardère in May 2019 in Paris ERIC PIERMONT AFP/Archives

On this last point, Arnaud Lagardère, CEO of the group that bears his name, announced on May 10 a project to retain control of its radios, without giving further details immediately.

© 2022 AFP