(News Bulletin 247) – The leader and heir to the Lagardère empire has lowered his stake to 0.4%, according to a declaration made to the Financial Markets Authority. In a message to the group’s employees, Arnaud Lagardère indicated that this sale had been carried out to be able to invest at the level of Louis Hachette Group, which now owns Lagardère.

Arnaud Lagardère is reorganizing his investment in the company inherited from his father, Jean-Luc. Which, symbolically, led him to almost withdraw from the capital of the Lagardère group.

According to a statement published by the Financial Markets Authority (AMF) this Friday, December 20, Arnaud Lagardère has crossed downward the threshold of 5% of the capital of Lagardère SA, to fall to 0.4% of the capital held directly or via its holding company Arjil.

These shares were sold on December 12 to Vivendi as part of the public purchase offer (OPA) for Lagardère SA.

When purchasing Lagardère in 2022, Vivendi gave certain shareholders the option of tendering their shares to the offer until June 15, 2025.

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Why did Arnaud Lagardère sell these shares? The manager himself explained this decision in an email sent to the company’s employees this Friday and which BFMBusiness.com was able to consult.

Arnaud Lagardère announces that it has therefore gone from 5.12% to 0.4% of the capital of Lagardère SA. “This sale is part of my desire to invest at the level of Louis Hachette Group SA, which now controls the Lagardère group, to be able to participate in its development alongside other shareholders and in particular the first of them, the Bolloré family (…)”, writes Arnaud Lagardère in this email.

“This is done since at the time I am speaking to you, my stake in Louis Hachette Group SA has already exceeded the one I held in Lagardère SA,” he added. Arnaud Lagardère also remains at the head of the company founded by his father.

Contacted by News Bulletin 247, Lagardère SA and Louis Hachette Group did not immediately respond to a request for comment.

Louis Hachette Group listed on the stock market on Monday December 16. This group was born from the split into four entities of Vivendi (with Havas listed in Amsterdam, and Canal+ in London).

Louis Hachette Group was transferred Vivendi’s 66.5% stake in Lagardère SA and therefore de facto owns its activities, such as “travel retail” (sales in airports and train stations), publishing or the media (Europe 1, Elle, JDD). Outside the historical scope of Lagardère SA, Louis Hachette Group 100% owns the media group Prisma (Capital, Current Woman, Geo, Télé Loisirs, etc.), previously in the fold of Vivendi.

In other words, Arnaud Lagardère moved his stake from Lagardère SA to the holding company which controls Lagardère SA.

During the summer, the manager reduced his stake in Lagardère SA from 11.11% to 5.12%. “I sold to pay off my debt, which is almost at zero, and will soon be at zero.” , he explained at the end of August to Le Figaro.

Arnaud Lagardère has been indicted since April, suspected of having fraudulently used funds from the companies Lagardère SAS and Lagardère Capital & Management (LCM) for several years to finance his personal expenses.