About: http://data.cimple.eu/news-article/764c3ba363802bb580e2efb83f880555fba73269eac1c7296b8363e3

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About: http://data.cimple.eu/news-article/764c3ba363802bb580e2efb83f880555fba73269eac1c7296b8363e3 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

Attributes	Values
rdf:type	schema:NewsArticle
schema:articleBody	French billionaire Arnaud Lagardere has agreed to relinquish control over his media empire, which includes the Hachette publishing house, under pressure from investors and influential business tycoons. The Lagardere group includes Hachette, the Relay chain of airport and railway station newsagents, as well as Paris Match magazine, Europe 1 radio station and other media outlets. Arnaud Lagardere had for years resisted attempts by British hedge fund investor Amber Capital to loosen his grip on the company he has run since the death of his father Jean-Luc in 2003. While only holding seven percent of shares following years of selling his stock, Lagardere retained veto power over the group under an arcane legal structure that acted as a shield against takeover attempts. But on Wednesday the Lagardere group said that its supervisory board had "positively received" a proposal to abolish the structure, handing power to shareholders in line with their shareholdings. As well as Amber Capital, rival French tycoons Bernard Arnault of the LVMH luxury goods conglomerate and industrialist and media magnate Vincent Bollore have built up stakes in the group. French media have speculated about a breakup of the Lagardere empire, with Arnault and Bollore competing to buy parts of the business. The changes to the company's corporate governance will be put to a vote at a board meeting on June 30. Under the reform, Arnaud Lagardere will remain CEO of the company for six years and will receive a payout in new shares equivalent to about 7 percent of the group's capital, the company said. "I am sincerely very, very happy about this turn of events. It's a change that I wanted and for which I take responsibility, without qualms or regrets," Lagardere said in a phone-in press conference. Lagardere has been hard hit by the Covid-19 pandemic, which has decimated its travel retail revenues. In January, it received a nearly half-a-billion-euro rescue package underwritten by the French state. kd/cb/adp/rl
schema:headline	France's Lagardere gives up grip over family firm
schema:mentions	Dissociation constant Bernard Arnault Vincent of Saragossa Media conglomerate Hedge fund Veto Radio broadcasting Train station Billionaire Chief executive officer Pandemic France United Kingdom Coronavirus disease 2019 Lagardère Group Match (magazine) Hachette Book Group Europe 1 Luxury goods Corporate governance Davy Arnaud Supervisory board LVMH Citizens band radio Adenosine diphosphate
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-04-28 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	80 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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