Vivendi: Canal+ raises stake in Swedish Viaplay to 29%.

(CercleFinance.com) - Canal+, a subsidiary of the Vivendi group, announced on Friday that it had increased its stake in Viaplay, as main shareholder following the completion of the Swedish video streaming group's recapitalisation plan.


The French audiovisual group states that it now holds 29.3% of the capital of the Nordic video-on-demand platform, up from 12% previously.

For the record, Viaplay recently completed a 4bn SEK (E355m) recapitalisation project that resulted in the restructuring of two billion in debt (E175m), of which 500 million (E45m) was converted into shares.

Maxime Saada, Canal+'s CEO, welcomed the prospect of a fresh start for the company.

With a well-balanced capital structure, a clear roadmap and a new management team, Viaplay has now laid the foundations for a successful turnaround, he said.

Our group's support for Viaplay is a further illustration of our ambition to become a global player in video entertainment and to expand our international footprint, with a focus on Europe, Africa and Asia, he added.

On the Stockholm Stock Exchange, Viaplay shares gained 2.5% after this announcement.


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