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SAINT-GOBAIN AND VIVENDI UNDWIND THEIR CROSS-SHAREHOLDINGS
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Compagnie de Saint-Gobain and Vivendi have begun unwinding their cross-shareholdings on April 30, by exercising the reciprocal options granted in July 1998 to buy back their shares. The options set up at the same time, as a hedge against fluctuations in the two companies' share prices, have also been closed out.
Details of the transactions are as follows:
- Compagnie de Saint-Gobain has purchased from Vivendi 3,000,000 Saint-Gobain shares at a total price of EUR 483 million (FRF 3,168 million) or EUR 161 (FRF 1,056) per share. Its remaining interest in Vivendi's capital stands at 3.4%, representing 6.5% of the voting rights.
- Vivendi has purchased from Compagnie de Saint-Gobain 4,700,000 Vivendi shares at a total price of EUR 808 million (FRF 5,300 million) or EUR 172 (FRF 1,128) per share. Its remaining interest in Saint-Gobain's capital stands at 1.8%, representing 3.4% of the voting rights.
03/05/99
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