EXHIBIT 2.7
20 January 2001
Havas Advertising
MGP Founders
AGREEMENT TO CONTRIBUTE
SIGNATURE BINDER
Dated January 20/th/, 2001
Agreement to Contribute
between
Havas Advertising, S.A.
and
MPG Founders
AGREEMENT TO CONTRIBUTE
This Agreement is executed on this 20th day of January, 2001.
BETWEEN
(1) ADVERTISING ANTWERPEN B.V., a "besloten vennootschap met beperkete
aansprakelijkheid" (private company with limited liability) duly
incorporated and legally existing under the laws of The Netherlands with
corporate seat in Amsterdam, the Netherlands and with registered office at
World Trade Centre, Tower B, 17th floor Strawinskylaan 1725, 1077 XX
Amsterdam, The Netherlands, registered with the Trade Register in Amsterdam
under number, 33,250,361, duly represented by Xx. Xxxxxxxx Xxxxx Castane,
by virtue of a power of attorney, a copy of which is annexed hereto as
Annex A (hereinafter "Advertising Antwerpen"),
(2) BANCO SANTANDER CENTRAL HISPANO, S.A., with registered office in Xxxxx xx
Xxxxxx 0 -00, Xxxxxxxxx, duly represented by Xx. Xxxxxxx Xxxxxxxx Surribas,
Sudirector General, by resolution of the Executive Committee of BSCH, taken
on 16 January 2001, a copy of which is annexed hereto, (hereinafter "BSCH")
(3) COMPANIA DE CARTERA E INVERSIONES S.A., a limited liability company duly
incorporated and legally existing under the laws of Spain, with registered
office in Madrid, Xxxxx xx xx Xxxxxxxxxx 00 (Xxxxx), registered with the
Trade Registry of Madrid, volume 5129, 4279 of the third section, folio 24,
page number 40669, with Tax Identification Number A-48027890, duly
represented by Mr. Pastor Xxxxxxxx Lago, by virtue of power of attorney
granted before the Notary Public of Bilbao Xx. Xxxx Xxxxx Xxxxxxx Xxxxx on
18 January 2001, under number 75 of protocol, (hereinafter "Compania de
Cartera e Inversiones"),
(4) DEYA S.A., a limited liability company duly incorporated and legally
existing under the laws of Luxembourg, with registered office at 00-00
Xxxxxxxxx xx Xxxxxx Xxxxx, X-0000 Xxxxxxxxxx, X.X. 00000, registered with
the Trade Registry of Luxembourg under number 26.285, Section B, with Tax
Identification Number A-J7500040, duly represented by Xxxxxxx Xxxxx Xxxxx,
an individual of Spanish nationality of legal age and with identification
number 02011846-J, in his capacity as administratreur delege and authorised
pursuant to the resolution of the Board of Directors dated 12 January
2001, a copy of which is annexed hereto as Annex B, (hereinafter "Deya"),
(5) Xx. XXXX XXXXXXXX-XXXXXX XXXXX, an individual of Spanish nationality, of
legal age and with Identification Number 37.604.987-X,
Xxx. XXXXX XXXXX XXXXX XXXXXXX, an individual of Spanish nationality, of
legal age and with Identification Number 37.749.687-V,
Mrs. XXXXXXXX XXXXXXXX-XXXXXX XXXXX, an individual of Spanish nationality,
of legal age and with Identification Number 46.133.906-T, and
Mrs. XXXXXX XXXXXXXX-XXXXXX XXXXX, an individual of Spanish nationality, of
legal age and with Identification Number 38.135.202-Y,
-1-
(all of the foregoing individuals hereinafter referred to as "Xxxxxxxx-
Xxxxxx"), collectively represented by Xx. Xxxx Xxxxxxxx-Xxxxxx Xxxxx, by
virtue of a power of attorney granted on 28 January 1999 before the Notary
Public of Barcelona, Xx. Xxxxxx Xxxxx Balina, under number 361 of protocol.
(all of Advertising Antwerpen, BSCH, Compania de Cartera e Inversiones, Deya and
Xxxxxxxx-Xxxxxx are hereinafter referred to individually as an "MPG Founder" and
collectively as the "MPG Founders"), and
(6) HAVAS ADVERTISING S.A., a limited liability company duly incorporated and
legally existing under the laws of the Republic of France with registered
office at 00, xxx xx Xxxxxxxx, 00000 Xxxxxxxxx-Xxxxx (Xxxxxx), registered
with the Companies and Commercial Registry of Nanterre under number B 335
480 265, duly represented by Alain de Pouzilhac of French nationality, of
legal age, and with passport number 753197031529 in his capacity as
President of the Board of Directors and authorised pursuant to the
resolution of the Board of Directors dated 19 January 2001 (hereinafter
"HA"),
(HA and each of the MPG Founders are hereinafter referred to individually as a
"Party" and collectively as the "Parties").
All present declare that their powers of attorney are valid and have not been
revoked.
Whereas
(A) On 29 November 1998, HA and the MPG Founders executed a Merger Agreement
(the "Merger Agreement") whereby they undertook to merge the international
media business held by the MPG Founders and the media business of the HA
group, as well as providing for the continuing participation of the MPG
Founders in the management of the media business of HA in the future. The
Merger Agreement was further developed and implemented by a Supplemental
Agreement (the "Supplemental Agreement"), a Shareholders' Agreement (the
"Shareholders' Agreement"), a contribution agreement and a Put Option
Agreement (the "Put Option Agreement") dated 22 March 1999, and a Second
Supplemental Agreement (the "Second Supplemental Agreement") dated 5
October 1999, (the term "Merger Documents" meaning all of the agreements
defined in this paragraph, and any documentation executed implementing or
supplementing said agreements) on which date, the merger was fully effected
by the contribution of shares to the joint venture vehicle today named
Media Planning Group, S.A. ("MPG").
(B) The Parties agree that the merger has been an unqualified success, that
further integration of MPG in the HA group would enhance the effect of the
merger and strengthen the activities of the media business.
(C) In consequence, HA wishes to propose to the MPG Founders, who agree, the
full integration of MPG in HA and strengthening the ties of the management
and MPG Founders to the HA activities. While this could be achieved with a
purchase of the shares of MPG held by the MPG Founders, HA would like to
propose preferentially, and subject to the approval of the General
Shareholders' Meeting of HA, a contribution in kind and sale of said shares
to HA and agreeing certain employee benefits.
Now therefore, the Parties agree the following:
DEFINITIONS
-2-
Terms are defined in the text where appropriate. Annex I details the clause
where each definition is found.
1 OBJECT OF THIS AGREEMENT
The object of this Agreement is to establish the terms and conditions under
which the MPG Founders undertake to contribute and sell all their shares in
MPG, as listed in Annex 2.1. (i) (the "MPG Shares") to HA, and the
obligations undertaken in consideration thereof by HA.
The current intention of the Parties is to achieve the contribution of the
MPG Shares to HA by 25 May 2001. In consequence, HA will provide its best
efforts to call an Extraordinary General Shareholders' Meeting of HA (the
"Completion GSM"), to be held by said date or, at the latest, by 30 June
2001 (hereinafter the term, "Completion Date" shall be understood to refer
to the date on which the Completion GSM is actually held) and the MPG
Founders shall provide all necessary and useful co-operation to HA to such
end.
2 UNDERTAKING TO CONTRIBUTE AND SELL
2.1 Contribution and Sale
(i) General contribution undertaking: Subject to the terms and conditions
--------------------------------
of this Agreement, each MPG Founder hereby irrevocably undertakes to
transfer, by way of a contribution in kind (apport en nature), the
number of MPG Shares listed in Annex 2.1. (i) to HA, in exchange for
the issue by HA of twenty-eight million eight hundred thousand
(28,800,000) new shares of HA, (the "New HA Shares") reserved to the
MPG Founders (the "Contribution"). Annex 2.1. (i) sets out the number
of New HA Shares which shall be issued to each of the MPG Founders.
(ii) Sale: Each MPG Founder hereby irrevocably undertakes to sell, and HA
----
undertakes to purchase on the Completion Date and immediately after
the Contribution, the number of MPG Shares listed in Annex 2.1. (i)
(the "Sale"), for payment of cash in Euros (the "Cash Payment"). The
total amount of such Cash Payment being equal to fifty one million
two hundred thousand (51,200,000) Euros, distributed as established
in Annex 2.1(i).
2.2 Assistance and best efforts
HA and each of the MPG Founders shall fully co-operate in respect of all
matters relating to the Contribution (including, without limitation, the
taking by the MPG Founders and HA of all corporate action in respect of MPG
and HA, necessary for the transfer to HA of the MPG Shares and the issue of
New HA Shares) and Sale, and shall use their best efforts to proceed with
the Contribution and the Sale in accordance with the timetable established
in Annex 2.2. HA will keep the MPG Founders fully informed, through Xx.
Xxxxxxxx Xxxxx or any person designated by him for this purpose, of the
progress of any matters related to the Contribution.
Additionally, HA undertakes to provide its best efforts to obtain all
authorisations necessary from any French authorities promptly and in a
diligent manner, and to keep the MPG Founders informed, through Xx.
Xxxxxxxx Xxxxx or any person designated by him for this purpose, of the
progress of any such activities.
-3-
HA undertakes to provide all best efforts to ensure that the Completion
Date is 25 May 2001.
2.3 Representations and warranties by the MPG Founders
(i) On the date hereof: The MPG Founders (individually and not jointly
------------------
and severally) represent and warrant that, on the date hereof:
. each of the MPG Founders is the legal owner of, and with full
right, interest and title to the number and percentage of shares
and voting rights of MPG specified in Annex 2.1. (i).
. the MPG Shares and voting rights represent in the aggregate, 55%
of the total outstanding share capital and voting rights of MPG,
and are fully paid-up.
. there are no agreements to offer or issue shares of MPG with the
exception of the right held by BSCH pursuant to the Arena
shareholders' agreement referred to in clause 5.1. of the Second
Supplemental Agreement for 0.65 % of MPG, such right having been
modified pursuant to an amendment agreement to the Contrato
entre Socios dated 4 October 1999, of even date herewith, signed
between BSCH, MPG and HA.
(ii) On the Completion Date: The MPG Founders (individually and not
----------------------
jointly and severally) further represent and warrant that, on the
Completion Date, the MPG Shares delivered and sold, as the case may
be, to HA in exchange for the New HA Shares shall meet the following
criteria:
. they shall be fully paid-up and unencumbered;
. apart from the shares of MPG currently held by HA, they shall be
the only shares of MPG issued and outstanding and that there
shall be no shares or rights to shares of any nature whatsoever
held by any other person and there are no (and on the Completion
Date, there shall be no) agreements with any person (other than
HA) to offer or grant or issue shares or any other type of
security whatsoever or any rights to shares of any nature
whatsoever in MPG;
. this transaction and its implementation do not require
authorisation from the Spanish competition authorities.
2.4 Representation and warranties by HA
(i) On the date hereof: HA represents and warrants that, as of the date
------------------
hereof:
. the current share capital of HA is (rounded up to) 279.8 million
fully paid-up HA shares, calculated by treasury method pursuant
to the methodology detailed in Annex 2.4 (i) and with a market
price of 15 Euros per share, excluding the December 2000 Xxxxxx
convertible bond issue (the "Share Capital").
. this transaction and its implementation do not require
authorisation from the French competition authorities.
-4-
(ii) On the Completion Date: HA represents and warrants that on the
----------------------
Completion Date, the New HA Shares delivered upon contribution of
the MPG Shares (or otherwise transferred pursuant to this Agreement)
shall meet the following criteria:
. they shall be fully paid-up and be unencumbered;
. they will have the same par value and rights as all other shares
of HA, subject to the last bullet point of this subclause (ii)
in relation to dividends;
. they will be registered within 7 days on the Paris Stock
Exchange;
. subject to the obligations relating to the Lock-Up Period (as
defined below) agreed between the Parties herein, they will
provide all shareholder rights on the Completion Date, and be
fully negotiable on the Paris Stock Exchange with no
restrictions.
. they will be issued with the right to receive all dividends for
the financial year 2001 and subsequent years.
Except as provided herein, no other representations and warranties shall be
given by any Party in respect of the Contribution and the Sale.
2.5 Completion Conditions
The Contribution and Sale obligation undertakings in clause 2.1 are
conditional upon fulfilment of the following conditions (the "Completion
Conditions"):
(i) approval at the Completion GSM prior to 1 July 2001 of the
transaction on the terms agreed herein.
(ii) appointment by the Completion GSM of Xx. Xxxxxxxx Xxxxx and Mr.
Carlos March or any other persons mutually agreed pursuant to clause
3.2. as Directors of HA.
(iii) ratification by the Completion GSM of Xx. Xxxxxxxx Xxxxx as a
Director of HA, or should he be no longer a Director, the
appointment of the CEO of MPG as a Director of HA.
2.6 Contribution Agreement
The Parties shall promptly after the date hereof, and in good faith,
negotiate and enter into a contribution agreement ("Contribution
Agreement") (Traite d'apport) detailing the provisions of this clause and
specifically that the Contribution shall be effected in two subsequent
increases in Share Capital approved by the Completion GSM as follows:
(i) First increase in share capital for 7,632,000 New HA Shares, to be
subscribed by the following MPG Founders: Compania de Cartera e
Inversiones and BSCH, who will deliver the MPG Shares established in
Annex 2.1 (i).
The Parties agree to apply the tax regime in chapter VIII, title
VIII of Spanish Law 43/95, to this contribution of shares, with HA
exercising the option to apply the regime established in chapter
VIII, and shall communicate such exercise of such option to the
Spanish ministry. The Contribution Agreement shall include all
references and information required by Spanish law, in particular,
pursuant to Article 110 of the Law 43/95 and applicable regulations,
(the requirements of which are set out in Annex 2.6 hereto.)
-5-
HA shall co-operate with the MPG Founders to assist them in the
compliance with such regime. The MPG Founders declare that other
than the tax value at which this part of the Contribution is made,
compliance with this paragraph (i) will have no adverse effect on
HA.
(ii) Second increase in share capital for 21,168,000 New HA Shares, to be
subscribed by the following MPG Founders: Advertising Antwerpen,
Deya, and Xxxxxxxx-Xxxxxx, who will deliver the MPG Shares
established in Annex 2.1 (i).
The MPG Founders in paragraph (ii) with the exception of Advertising
Antwerpen may, by written notice delivered to HA within ten days
hereof, decide to contribute in the first increase of Share Capital,
in which case, the first increase in Share Capital will be for the
appropriate number of shares.
Additionally, the Contribution Agreement shall provide that the
Contribution shall be conditional on (a) both increases being approved, (b)
all Completion Conditions being complied with and (c) further shall be
subject to the condition subsequent of the Sale not being completed by 30
June 2001.
3 GOVERNANCE RIGHTS
3.1 Authorised representatives
The governance rights granted herein are granted to the MPG Founders
collectively and not individually. The MPG Founders shall therefore, from
time to time, appoint a duly authorised representative (the
"Representative") (being an MPG Founder or a third party) who shall
represent them with respect to the exercise of such governance rights. Any
communication delivered by the Representative shall be considered binding
on all MPG Founders. The first such Representative shall be Xx. Xxxxxxxx
Xxxxx. Any decision, with the exception of any amendment whatsoever to this
Agreement and the termination right under clause 6.6 (ii) which requires
unanimity of all MPG Founders, to be made by the MPG Founders under this
Agreement will be valid and binding on all Parties if delivered in writing
duly executed by the MPG Founders holding more than 50% of the MPG Shares,
or more than 50% of the New HA Shares.
3.2 Board of Directors and Committees of HA
In order to encourage the execution of this Agreement and the participation
of MPG Founders in HA, HA undertakes the following:
(i) to propose to the Completion GSM, the appointment of the following
persons to the Board of Directors of HA for a term of three years:
Xx. Xxxxxxxx Xxxxx as Director; Mr. Carlos March as Director; and
the MPG CEO ("Consejero Delegado") as Director;
(ii) to appoint upon creation of the relevant Committee, and maintain for
as long as they are Directors, subject to the right of the Board of
Directors to eliminate any such Committees, and/or to introduce any
new Committees, the following persons to the following Committees of
HA:
. Xx. Xxxxxxxx Xxxxx shall be a member and Chairman of the
Strategic Committee, or any other Committee which may substitute
the functions of the Strategic Committee;
-6-
. Mr. Carlos March shall be a member of the Compensation
Committee, or any other Committee which may substitute the
functions of the Compensation Committee;
(iii) to propose the reappointment of the above Directors, or their
substitutes, to the Board and if so reappointed by the General
Shareholders' Meeting, to reappoint said Directors, or their
substitutes (in accordance with the provisions of the immediately
following paragraph of this clause 3.2) to the above mentioned
Committees for a period of three further years, provided that upon
expiry of their original mandate, the MPG Founders collectively hold
at least 15,000,000 Shares of HA (adjusted for any stock splits,
dividends or any similar arrangement).
In the event that either of the appointees cannot accept (on account of
reasons beyond the control of such appointee) his appointment or should
cease to serve on the Board or the Committees above mentioned, HA shall
propose (subject to the agreement of the Chairman of HA at the date hereof,
and not any other, whose consent shall not be unreasonably withheld) the
appointment of substitutes designated by the MPG Founders to replace the
appointees on the Board and the Committees;
(iv) to appoint upon the creation of the relevant Committee, and subject
to the right of the Board of Directors to eliminate any such
Committees, and/or to introduce any new committees, the following
persons, for as long as their employment contracts remain valid, to
the following Committees of HA:
. Xx. Xxxxxxx Xxxxx shall be a member of the Havas Sports
Marketing Division Committee, or any other Committee which may
substitute the functions of the Havas Sports Marketing Division
Committee;
. Xx. Xxxxx Xxxxxxx shall be a member of the Human Resources
Committee (in the process of being created), or any other
Committee which may substitute the functions of the Human
Resources Committee.
(v) to create the Committees mentioned in this clause 3.2. within 60
days of the Completion Date;
(vi) to appoint Xx. Xxxxxxxx Xxxxx as a Member of the Board of HA at the
first Board Meeting, to be held within 15 days of the date hereof by
co-optation, and to propose his ratification as such at the latest
by the Completion GSM;
(vii) to recommend to the General Shareholders' Meeting, for as long as
the MPG Founders have the right to nominate directors and their
substitutes pursuant to clause 3.2(i) to (iii) above, to keep the
number of the members of the Board of Directors between 14 and 18.
3.3 Board of Directors of MPG
In order to encourage the execution of this Agreement, HA undertakes, for a
period of 5 years, to do the following:
(i) as from the Completion Date, the number of members of the Board of
Directors of MPG shall be reduced from its current level of 23
members, provided that the Board shall always include at least one
Director designated by each MPG Founder;
-7-
(ii) the Board of Directors of HA shall take into serious consideration
any recommendation that the MPG Founders (acting through the
Representative) may make with respect to the size and composition of
the Board of Directors of MPG;
(iii) to appoint and maintain Xx. Xxxxxxxx Xxxxx as Chairman of the Board
of Directors of MPG for as long as his employment agreement executed
today pursuant to clause 4.3.2. (iii) remains in effect;
(iv) to appoint and maintain Xx. Xxxxxxxx Xxxxx as CEO ("consejero
delegado") of MPG for as long as his employment agreement executed
today pursuant to clause 4.3.2. (iii) remains in effect;
(v) notwithstanding the foregoing, the MPG Founders acknowledge and
accept that, as a collective body, they shall have no specific
rights of any nature whatsoever in respect of the management of MPG
as of the Completion Date.
4 CERTAIN PRE-COMPLETION MATTERS
4.1 Undertakings by the MPG Founders
Prior to Completion Date,
(i) The MPG Founders shall ensure that no new shares or any instruments
of any nature whatsoever giving a right (whether immediate or
future, contingent or certain) to shares of MPG and no agreement or
undertaking to grant any of the same shall be issued by MPG prior to
the Completion Date.
(ii) Except as provided in clause 4.4., the MPG Founders shall ensure
that no dividends shall be declared or agreed to be declared by the
Board of Directors of MPG.
(iii) The MPG Founders undertake to ensure that the activities of MPG are
conducted in the ordinary course of business up to Completion Date.
4.2 Undertakings by HA
Prior to the Completion Date:
(i) The Board of Directors of HA shall not approve the distribution of
interim dividends or propose to the General Shareholders' Meeting
the approval of any interim dividend or dividends made from reserves
or premiums.
(ii) The Board of Directors of HA shall not propose to the General
Shareholders' Meeting nor authorise (where the General Shareholders'
Meeting's authorisation is not required) any issue of shares or
other securities giving access directly or indirectly to the Share
Capital or voting rights of HA for cash consideration unless said
issue is made on the basis of cash contributions that are fully paid
up on subscription and said shares are issued at market value. For
the avoidance of doubt, capitalisation of reserves or premiums shall
not be considered as a cash contribution for the purposes hereof.
(iii) The Board of Directors shall keep Xx. Xxxxxxxx Xxxxx fully informed
of any transactions to be made outside the ordinary course of
business and involving the issuance of shares of HA (each an
"Extraordinary Transaction") prior to any
-8-
commitment being undertaken by HA in respect of any such Extraordinary
Transaction.
4.3 Management conditions undertaken by HA
4.3.1 Key Personnel
(i) HA undertakes to the MPG Founders that it shall put in place
on Completion Date, for the benefit of the Key Personnel, a
stock option plan in respect of 300,000 HA shares (the "Stock
Options"), the terms and conditions of which shall be
determined in a meeting of the Board of Directors of HA to be
held immediately after the Completion GSM. The terms of the
Stock Options shall be based upon the average market price of
the HA shares on the 20 trading days immediately preceding the
date of the aforesaid meeting of the Board of Directors of HA
and upon vesting criteria consistent with HA's current
practice.
(ii) The MPG Founders (represented by Xx. Xxxxxxxx Xxxxx for the
purposes of this clause 4.3.1.) shall, no later than 15 days
prior to the date scheduled for the Completion GSM, provide to
HA a list of no more than 100 key personnel employed by MPG
(the "Key Personnel"), detailing the Stock Options allocated
to each of the Key Personnel.
4.3.2 Key Executives
(i) Annex 4.3.2. (i) sets out a list of 7 key executives employed
by MPG (the "Key Executives").
(ii) HA undertakes to procure that MPG enters into good faith
negotiations with the Key Executives in respect of the
implementation of a three year LTIP (Long Term Incentive Plan)
or equivalent programme by the end of 31 December 2001, to be
applicable as of 1 January 2002.
(iii) The MPG Founders and HA acknowledge and accept that the Board
of MPG has authorised Xx. Xxxxxxxx Xxxxx, Mr. Xxxxx de
Pouzilhac and Xx. Xxxxx Xxxxxxx to execute, on the date
hereof, the employment agreements with each of the Key
Executives.
4.4 MPG Dividends
Prior to the Completion Date, the Shareholders' Meeting of MPG shall
declare a dividend in an amount payable by MPG of fifteen million fifty-
four thousand five hundred and forty-five (15,054,545) Euros to be
distributed to HA and the MPG Founders respectively, in accordance with the
percentage of MPG Shares held prior to the Completion Date by each Party.
This dividend is in addition to the interim dividends already distributed
in 2000, and shall be made by way of an interim dividend in 2001.
4.5 MPG Reorganisation
HA and MP Founders will analyse, prior to the Completion Date, possible
alternatives to reorganise MPG with a view to devising a more efficient tax
structure for HA and the MPG Founders.
-9-
5 CERTAIN POST-COMPLETION MATTERS
5.1 Lock-up Period
Except as provided for in the following paragraph, none of the MPG Founders
shall be entitled, directly or indirectly, to sell, transfer, contribute,
or otherwise dispose of (including, for the avoidance of doubt, by way of
pledge or other form of security,) or grant or acquire any rights or
obligations in respect of any of their New HA Shares to any party (other
than to the MPG Founders, Related Parties (as defined in clause 6.3 below)
and the 5% Transferees (as defined in (ii) below), in each case, only in
accordance with the provisions hereof) prior to 31 December 2001 (the
"Lock-Up Period").
The undertaking assumed by the MPG Founders in the preceding paragraph
shall not apply or shall automatically terminate in any of the following
circumstances:
(i) should any public tender offer of acquisition of, or exchange for,
(OPA, OPE) shares of HA be officially launched and only in respect of
such offer during the period in which such offer is open;
(ii) should an unsolicited (i.e. hostile) public tender offer of
acquisition or exchange (OPA, OPE) of shares of HA be officially
launched for a percentage of HA share capital and succeed in giving
the purchasers launching such unsolicited public tender offer control
of HA;
(iii) In any transaction, involving the exchange of shares of HA (such as a
merger) formally recommended by the Board of HA and only in respect
of such transaction ;
(iv) transfers to any persons, whether directly or through one other
transferee (which other transferee shall be bound as if it were a 5%
Transferee), (the "5% Transferees") in a maximum aggregate amount
equal to 5% of the New HA Shares issued to the MPG Founders in order
to enable payment of services related to this transaction and only
provided that the 5% Transferee(s) undertake in writing prior to the
transfer to accept and be bound by the provisions relating to the
Lock-Up Period (to the exclusion of this paragraph (iv)), pursuant to
the text established as Annex 5.1. (iv);
(v) should Xx. Xxxxxxxx Xxxxx, Xx. Xxxxxxxx Xxxxx or Xx. Xxxxxx March (or
any substitute therefor designated by the MPG Founders) be removed
from the Board of HA or any proposed substitute (approved by the
current chairman) fails to be appointed within 30 days of the request
by the MPG Founders;
(vi) should Xx. Xxxxxxxx Xxxxx be removed from his position as CEO
("Consejero Delegado") of MPG;
(vii) should the Board of Directors of HA approve (or propose to the
General Shareholders' Meeting the approval of), with the negative
vote of Xx. Xxxxxxxx Xxxxx, any Extraordinary Transaction, or any
resolution related to any Extraordinary Transaction, which
Extraordinary Transaction would, in accordance with the terms and
conditions thereof, close before the Completion Date.
In addition to the foregoing, during the Lock-Up Period, the MPG Founders
(and other persons subject to the Lock-Up (the "Lock-Up") shall be
permitted to pledge their New HA Shares provided that each of the following
conditions is met:
-10-
(a) the terms on which any such New HA Shares are pledged prevent the
pledgee from disposing of such New HA Shares in any manner whatsoever
(including, but not limited to, transferring, selling, lending,
pledging and granting rights to third parties in respect thereof)
during the period of the Lock-Up without the prior consent of HA;
(b) all of the sums secured by the pledge of the New HA Shares are fully
invested in the acquisition of shares of HA;
(c) if the terms on which any such New HA Shares are pledged include a
top-up clause ("clause d'arrosage"), the maximum top-up amount in HA
Shares must not exceed the maximum number of shares acquired using
the sums secured by the pledged New HA Shares;
(d) either a copy of the pledge agreement and of the clauses in the loan
or similar agreement detailing the foregoing or a letter from the
lender (or similar entity) confirming the terms and conditions of the
loan (or similar agreement) and the pledge is provided to HA prior to
any such pledge of the New HA Shares becoming effective to enable HA
to ensure that the terms and conditions of the loan and pledge
correspond to the foregoing.
On 1 January 2002, or upon the occurrence of any of the events numbered in
paragraphs (ii), (v), (vi) or (vii) above, the Lock-Up Period finalises and
the MPG Founders shall be free to dispose or encumber then New HA Shares
without any restrictions whatsoever.
5.2 US Registration rights
(i) the New HA Shares have not been registered under the U.S. Securities
Act of 1933 (the "Securities Act") and may not be offered or sold
within the United States or to, or for the account or benefit of,
U.S. persons except pursuant to an exemption from the registration
requirements of the Securities Act or pursuant to an effective
registration statement under the Securities Act.
(ii) The Parties understand and agree that the MPG Founders shall have
registration rights with respect to potential offerings of the New HA
Shares within the United States or to, or for the account or benefit
of, U.S. persons. The Parties shall negotiate in good faith to enter
on a date no later than 9 February 2001 into a separate registration
rights agreement which shall be governed by the laws of the State of
New York and which shall set out mutually agreed terms and conditions
which are customary in transactions of this nature. The terms of such
registration rights agreement shall specifically incorporate and be
based upon the terms established in Annex 5.2(ii).
(iii) HA shall provide all necessary and useful co-operation to the MPG
Founders to dispose of the New HA Shares in the event the MPG
Founders notify HA of (i) any proposed private placement of the New
HA Shares by the MPG Founders; or (ii) any proposed public offering
of the New HA Shares in accordance with French law.
-11-
6 MISCELLANEOUS
6.1 Governing Law
This Agreement shall be governed by and construed in accordance with French
law, without reference to its principles of conflicts of law.
6.2 Jurisdiction
Except as otherwise expressly stated herein, any controversy or claim
arising out of or relating to this Agreement (including, without
limitation, a breach hereof of the rights or liabilities of the Parties
hereunder, as well as all matters related to the signature, interpretation,
validity and termination of this Agreement) shall be exclusively referred
to and finally settled by arbitration under the Rules of the London Court
of International Arbitration (the "Court"). The arbitral tribunal shall be
composed of three members. The Parties to any controversy or claim will
jointly appoint three arbitrators and, if within 30 days from the request
of one party (whether as plaintiff or defendant), the Parties fail to do
so, then the Court will appoint such three arbitrators, one of whom shall
be neither a Spanish nor a French national or resident.
The arbitration shall be held in London. The written submissions and the
proceedings shall be made or conducted in the English language.
The arbitration award shall be based on law and not on equity (equidad
"amiable composition") and not be subject to appeal.
Judgment upon the award rendered may be entered in any court having
jurisdiction or an application may be made to such court for judicial
acceptance of the award and an order of enforcement, as the case may be.
6.3 Assignability
Except as expressly provided to the contrary herein, this Agreement shall
bind any successors of the Parties, but no rights or obligations may be
assigned to any third party without the prior written consent of the other
Party hereto (for the purpose of this clause 6.3, HA shall be one Party and
the MPG Founders shall collectively be another Party). Notwithstanding the
foregoing, any MPG Founder may assign all of its rights and obligations to
a Related Party (as defined below), provided that, prior to the transfer,
the acquirer has agreed in writing (in form and substance reasonably
satisfactory to the other Party) to adhere and become a party to this
Agreement, and subject to transfer of the MPG Shares (if is prior to the
Completion Date) or the New HA Shares (if assignment is subsequent to the
Completion Date) to the acquiror. The transferor shall, in any event,
continue to be jointly and severally liable for compliance by the acquirer
with this Agreement.
"Related Party" means, with respect to any one or more MPG Founder(s), any
corporate entity which directly or indirectly is controlled by, controls or
is under common control with such one or more MPG Founder(s). The term
"control" as used herein means full ownership of at least 51% of the share
capital and voting rights of the relevant corporate entity. In respect of
those MPG Founders who are individuals, the term Related Parties shall also
include their lawful successors and heirs.
-12-
6.4 Amendment
Any provision of this Agreement may be amended or waived if, and only if,
such amendment or waiver is in writing and signed by each of the Parties
hereto.
6.5 Notification
Any notice, request, demand or other communication given with reference to
this Agreement shall be in writing in English and delivered by hand or by
fax, (provided that confirmation of receipt is made by the recipient).
If to or by the MPG Founders:
All notifications shall necessarily be made to or by Xx. Xxxxxxxx Xxxxx (at
the address or fax number provided herein) or any person appointed by the
MPG Founders and such notifications shall bind all of the MPG Founders.
To the attention of:
Xx. Xxxxxxxx Xxxxx
Media Planning Group
X/ Xx. Xxxxxxx, 00
00000 Xxxxxxxxx
Fax: 34- 93-414.76.53
With a copy to:
Linklaters & Alliance
Attn.: Xxxxxxx Xxxxxxx-Pedreno
Xxxxxxxx, 00
00000 Xxxxxx, Xxxxx
Fax: 34-91-399.61.48
If to HA:
To the attention of:
Mr. Alain de Pouzilhac and
Xx. Xxxxxxx Xxxxxx
Xxxxx Advertising, S.A.
00, xxx xx Xxxxxxxx
00000 Xxxxxxxxx-Xxxxx
Xxxxxx
Fax: 33-1-41.34.30.32
With a copy to:
Xxxxxx, Prat & Associes
000, xxx xx Xxxxxxxx Xxxxx-Xxxxxx
00000 Xxxxx, Xxxxxx
-13-
Attn.: Xxxx Xxxxxxx and Xxx Xxxxxxxx
Fax: 33-1-45.63.14.07
Any Party hereto may, from time to time, by notice in writing, served as
set out above, designate a different address or a different or additional
person to whom such notices, communications or payments are thereafter to
be sent.
6.6 Duration and Termination
Except with respect to those rights and obligations which, in accordance
with the terms and conditions of this Agreement, shall terminate earlier,
this Agreement shall enter into force on the date of the last signature
identified below and shall continue in full force and effect until 20
January, 2006.
This Agreement will terminate:
(i) if the Completion GSM is not held or does not approve the
Contribution in the terms agreed herein prior to 30 June 2001.
(ii) at the request of the MPG Founders, if an unsolicited (i.e., hostile)
OPA, OPE is officially launched in respect of shares of HA before the
Completion Date. In this case, the MPG Founders, acting through the
Representative, must declare the termination within 15 days as of the
initiation of such bid.
(iii) after Completion Date, should the MPG Founders own in the aggregate
less than 15,000,000 HA Shares.
With the exception of clause 6.8, any MPG Founder which, in accordance with
the terms and conditions of this Agreement, has sold all of its New HA
Shares will no longer be bound hereby.
In the event of termination pursuant to this clause 6.6 paragraphs (i) and
(ii), HA shall pay as compensation for costs, damages, and loss of
opportunities, the amount of twenty million (20,000,000) Euros, to be
distributed among the MPG Founders on a pro rata basis to their
participation in MPG.
6.7 Annexes
The Annexes attached hereto form an integral part of this Agreement and
shall have the same force and effect as all other provisions of this
Agreement.
6.8 Confidentiality
The terms of this Agreement, the transactions contemplated hereby and the
existence and nature of any negotiations relating to this Agreement and/or
the transactions contemplated hereby are confidential and shall not be
disclosed by any of the Parties to any third party without the prior
written consent of all other Parties, unless such disclosure is
contemplated by this Agreement or required by law, final order of a court
with jurisdiction or the rules or order of a competent stock exchange
authority, in which case, disclosure shall be made only to the extent
required by the same and, to the extent practical, only after consultation
with the non-disclosing Parties. The Parties have agreed a joint press
release, the text of which is annexed as Annex 6.8. No other press release
shall be made or published in respect of the transactions contemplated by
this Agreement (including the definitive agreements relating thereto)
unless agreed by all the Parties hereto.
-14-
The provisions of this clause 6.8 shall survive the termination of this
Agreement for whatever cause for a period of three years.
6.9 Effect on the Merger Documents
Except as provided in the following paragraph, the execution of this
Agreement does not affect, waive, supersede or modify, in any way, the
validity or effectiveness of any of the Merger Documents or documents
related to them, which will remain fully valid and binding in accordance
with their terms.
Upon the Contribution and Sale of the MPG Shares being effected on the
Completion Date, the Put Option Agreement and the Shareholders' Agreement
shall be considered terminated and without any further validity or effect
as of the Completion Date.
6.10 Severability
If any provision in this Agreement shall be held to be illegal, invalid or
unenforceable, in whole or in part, the legality, validity and
enforceability of the remainder of this Agreement shall not be affected.
6.11 Xxxxxxxx-Xxxxxx as one party
For the purposes of this Agreement, all persons comprising Xxxxxxxx-Xxxxxx
shall be considered as a single party, and all rights accruing to
Xxxxxxxx-Xxxxxx shall be exercised jointly by them.
6.12 The Parties' Consent
The Parties hereby expressly consent and give their mutual authorisation
reciprocally to effect the acts agreed herein freely and without
hindrance, waiving (exclusively for this purpose) expressly any
notification, obligation, rights of first refusal or any other clauses
with similar effects, agreed in the Merger Documents or established in the
MPG's by-laws.
6.13 Interpretation
The headings used in this Agreement are for reference purposes only and
are not to be used in the interpretation or construction of the provisions
herein.
In witness hereof, this Agreement is executed in Paris on the date mentioned
above. This Agreement is executed in six original copies, one for each Party.
/s/ [ILLEGIBLE] /s/ [ILLEGIBLE]
-------------------------------------- ----------------------------------------
Advertising Antwerpen BV Compania de Cartera e Inversiones, S.A.
/s/ [ILLEGIBLE] /s/ [ILLEGIBLE]
-------------------------------------- ----------------------------------------
Banco Santander Central Hispano, S.A. Deya, S.A.
-15-
/s/ D. Xxxx Xxxxxxxx-Xxxxxx Xxxxx /s/ [ILLEGIBLE]
-------------------------------------- ----------------------------------
D. Xxxx Xxxxxxxx-Xxxxxx Xxxxx Xxxxx Advertising, S.A.
-16-
INDEX
1 OBJECT OF THIS AGREEMENT...................................... 3
2 UNDERTAKING TO CONTRIBUTE AND SELL............................ 3
2.1 Contribution and Sale............................................ 3
2.2 Assistance and best efforts...................................... 3
2.3 Representations and warranties by the MPG Founders............... 4
2.4 Representation and warranties by HA.............................. 4
2.5 Completion Conditions............................................ 5
2.6 Contribution Agreement........................................... 5
3 GOVERNANCE RIGHTS............................................. 6
3.1 Authorised representatives....................................... 6
3.2 Board of Directors and Committees of HA.......................... 6
3.3 Board of Directors of MPG........................................ 7
4 CERTAIN PRE-COMPLETION MATTERS................................ 8
4.1 Undertakings by the MPG Founders................................. 8
4.2 Undertakings by HA............................................... 8
4.3 Management conditions undertaken by HA........................... 9
4.3.1 Key Personnel.................................................... 9
4.3.2 Key Executives................................................... 9
4.4 MPG Dividends.................................................... 9
4.5 MPG Reorganisation............................................... 9
5 CERTAIN POST-COMPLETION MATTERS............................... 10
5.1 Lock-up Period................................................... 10
5.2 US Registration rights [TEXT OPEN]............................... 11
6 MISCELLANEOUS................................................. 12
-1-
6.1 Governing Law..................................................... 12
6.2 Jurisdiction...................................................... 12
6.3 Assignability..................................................... 12
6.4 Amendment......................................................... 13
6.5 Notification...................................................... 13
6.6 Duration and Termination.......................................... 14
6.7 Annexes........................................................... 14
6.8 Confidentiality................................................... 14
6.9 Effect on the Merger Documents.................................... 15
6.10 Severability...................................................... 15
6.11 Xxxxxxxx-Xxxxxx as one party...................................... 15
6.12 Parties' Consent.................................................. 15
6.13 Interpretation.................................................... 15
-2-
[LOGO] DEYA
ASSOCIETE ANONYME LUXEMBOURGEOSE
[STAMP]
Extrait du Proces-Verbal de la reunion du Conseil d'Administration [ILLEGIBLE]
-------------------------------------------------------------------------------
12 janvier 2001 a 13.00 heures, au Siege social.
-----------------------------------------------
Presents: MM. Xxxxxx Xxxxxxxxxx, President
--------
Xxxxxxx Pifiel Xxxxx, administrateur-delegue
Xxxxxxx Xxxxxxxx Xxxxxx, administrateur-delegue
Xxxxxxx Xxxxxxxx, administrateur-delegue
Masshuo Longoni, administrateur
Ordre du jour:
-------------
1) Echange d'actions Media Planning Group S.A. contre des actions Havas
Advertising S.A.
2) (Omissis)
Premiere Resolution
-------------------
Le conseil est informe que ors de negociations avec Havas Advertising S.A. il a
ete decide de maintenir plusieurs actionnaires de Media Panning Group S.A. afin
d'aboutir a un accord, qui parmettrait a Havas Advertising S.A. actuellement
actionnaire de Media Planning Group S.A., d'acquerir la majorite ou la totalite
des actions Media Planning Group S.A., sur la base d'un echange d'actions.
Les actionnaires de Media Planning Group S.A. (MPG) participant a cette
operation, donneront toutes ou une partie de leurs actions Media Planning Group
X.X. x Xxxxx advertising S.A. et recovront des actions Havas Advertising S.A.,
solon l'equation d'echange finalement etablie. Un remboursement en especes est
egalement prevu pour les actionnaires qui cedent leurs actions MPG au moyen d'un
echange, ou d'une xxxxx partielle, jusqu'a 10% des actions MPG detenues par
chaque actionnaire.
Apres expose des differents points de ces negociations, le conseil accepte la
participation de Deyu dans cette operation d'echange et, a cet effet, accorde
individuellement tous les pouvoirs aux administrateurs delegues, M.M. Xxxxxxx
Pifiel Xxxxx et Xxxxxxx Xxxxxxxx Xxxxxx, en vue de la negociation et de la
signature de tolls les documents prives on publics necessaires a l'execution des
accords evoques precedemment.
Deuxieme Resolution
-------------------
(omissis)
Pour extrait conforme
un administrateur un administrateur
/s/ [ILLEGIBLE] /s/ [ILLEGIBLE]
Siege Social: 00-00 Xx xx Xxxxxx Xxxxx, Xxxxxxxxxx
R.C. Luxembourg: B 28285
CARTA XX XXXXXXX
D.J.C.L van den Xxxxxx y D. Xxxxxxx Xxxxx Vila, actuando en nombre y
representacion de ADVERTISING ANTWERPEN B.V. en su calidad de miembros de
consejo de administracion de la compania, solicitan y autorizan a D. Xxxxxxxx
Xxxxx Vila y a D. Xxxxxxxx Xxxxx Castane para que, cusiquiera de ellos,
indistintamente, en nombre y por cuenta de ADVERTISING ANTWERPEN B.V., suscribe
con la compania xxxxxxxx Xxxxx Advertising, S.A. ("HA") y los restantes
accionistas de la compania espanola Media Planning Group, S.A. ("MPG") para que
realico los siguientes actos:
1 Suscribir un contrato de aportacion en virtud del cual ADVERTISING
ANTWERPEN B.V. se compromete a realizar una aportacion no dineraria del 90%
de las acciones de MPG de las que ADVERTISING ANTWERPEN B.V. oc titular en
el dia xx xxx, esto es, aportora cincuente y seis milleones seiscientas
noventa y siete mil quinientas ochema y cuarto (56,697,584) acciones de
MPG, suscribiendo una ampliacion de capital de HA recibiendo ocho millones
coiccientos ocho mil trescientas veinte (8,608.320) acciones de la mierna.
Asimismo, ADVERTISING ANTWERPEN B.V. vendera en el mismo dia el 10%
restante de las acciones de MPG de que es tituear (esto es, seis millones
doscientas noventa y nueve mil setecientas treinta y dos (6,299.732)
acciones de MPG por el precio de quince millones trescientos tres mil
seiscientos ochenta (15,303.680) Euroc. El representante podra acordar
todas aquellas ciausuias y condiciones que considera convenientas.
Incluyendo la finalizacion de los contratos suscritos con HA y otros
accionistas de MPG derivados del "Merger Agreement" de 29 de noviembre de
1998.
2 Aceptar en nombre propio y de terceros un compromiso de pago de otros
accionistas, de dinero y acciones, paro el pago de los servicios de
intermediacion que pudioran derivarco de la operacion mencionada en la
ciausula numero 1 de esta Carta xx Xxxxxxx.
3 Acordar en la forma que considere mas conveniente, la finalizacion de
cualesquiera contratos y documentos susentos en relacion a las acciones de
MPG.
El mandante se compromete a ratificar expresamente, a solictud de cuaiquiera de
los contratantes, los documentos firmados por el representanto.
Este poder estara vigente hasta el 22 de Enero de 2001 inclusive. Transcurrida
dicha fecha sin que se hubieran suscrito los documentos apropiados en ejercicio
del presente xxxxxxx, este quedera revocado y sin siecto.
Y para que ello conste, se suscribe ci presente xxxxxxx que habra de ser
entregado y procentado a HA en al momento de la firma de los referidos
documentos.
Representante Representante
/s/ J.C.L. van den Xxxxxx /s/ Xxxxxxx Xxxxx Vila
------------------------- ----------------------
J.C.L. van den Xxxxxx Xxxxxxx Xxxxx Xxxx
ANNEX I
DEFINITIONS
"5% Transferees" Defined in clause 5.1 (iii).
"Cash Payment" Defined in clause 2.1 (ii).
"Completion Conditions" Defined in clause 2.5.
"Completion Date" Defined in clause 1.
"Completion GSM" Defined in clause 1.
"Contribution Agreement" Defined in clause 2.6.
"Contribution" Defined in clause 2.1 (i).
"Court" Defined in clause 6.2.
"Extraordinary Transaction" Defined in clause 4.2.(iii).
"Key Executives" Defined in clause 4.3.2 (i).
"Key Personnel" Defined in clause 4.3.1 (ii).
"Lock-Up" Defined in clause 5.1.
"Lock-Up Period" Defined in clause 5.1.
"Merger Agreement" Defined in Recital A.
"Merger Documents" Defined in Recital A.
"MPG Founder" or "MPG Founders" Defined in paragraph 10 on page 1.
"MPG Shares" Defined in clause 1.
"MPG" Defined in Recital (A).
"New HA Shares" Defined in clause 2.1 (i).
"Party" or "Parties" Defined in paragraph 2 on page 2.
"Put Option Agreement" Defined in Recital A.
"Related Party" Defined in clause 6.3.
"Representative" Defined in clause 3.1.
"Sale" Defined in clause 2.1. (ii)
"Second Supplemental Agreement" Defined in Recital A.
"Share Capital" Defined in clause 2.4 (i).
"Shareholders' Agreement" Defined in Recital A.
"Stock Options" Defined in clause 4.3.1 (i).
"Supplemental Agreement" Defined in Recital A.
ANNEX 2.1 (i)
------------------------------------------------------------------------------------------------------------------------------------
MPG Founders MPG Shares owned MPG Shares sold Price received by MPG Shares New HA Shares
by each MPG each MPG Founder in contributed received by each
Founder exchange for the MPG Founder in
MPG Shares sold exchange for the
MPG Shares
contributed
------------------------------------------------------------------------------------------------------------------------------------
Advertising Antwerpen B.V. 62,997,315 6,299,731 15,303,680(Euro) 56,697,584 8,608,320
------------------------------------------------------------------------------------------------------------------------------------
BSCH 14,542,706 1,454,271 3,532,800(Euro) 13,088,435 1,987,200
------------------------------------------------------------------------------------------------------------------------------------
Deya 82,619,429 8,261,943 20,070,400(Euro) 74,357,486 11,289,600
------------------------------------------------------------------------------------------------------------------------------------
Compania de Cartera e 41,309,715 4,130,971 10,035,200(Euro) 37,178,744 5,644,800
Inversiones
------------------------------------------------------------------------------------------------------------------------------------
Xxxx Xxxxxxxx-Xxxxxx 5,991,441 599,144 1,455,477(Euro) 5,392,297 818,705
------------------------------------------------------------------------------------------------------------------------------------
Xxxxx Xxxxx Xxxxx 3,139,231 313,923 762,601(Euro) 2,825,308 428,963
------------------------------------------------------------------------------------------------------------------------------------
Xxxxxxxx Xxxxxxxx-Xxxxxx 82,006 8,201 19,921(Euro) 73,805 11,206
------------------------------------------------------------------------------------------------------------------------------------
Xxxxxx Xxxxxxxx-Xxxxxx 82,006 8,201 19,921(Euro) 73,805 11,206
------------------------------------------------------------------------------------------------------------------------------------
________________________________________________________________________________
-1-
ANNEX 2.2
--------------------------------------------------------------------------------------
TIMETABLE FOR THE PROPOSED CONTRIBUTION OF 49.5% AND SALE OF 5.5% OF THE SHARES OF
MPG TO HA
--------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
DATES ACTION RESPONSIBILITY
------------------------------------------------------------------------------------------------------------------------------------
19 January . HA Board of Directors to approve the transaction under the terms incorporated in the . HA
Agreement to Contribute
. Appointment of Xxxxxxxx Xxxxx to the Board of Directors of HA . HA
. Preparation of press release . HA/Contributing
Shareholders
------------------------------------------------------------------------------------------------------------------------------------
20 January Execution of the Agreement to Contribute HA/Contributing
Shareholders
------------------------------------------------------------------------------------------------------------------------------------
________________________________________________________________________________
-2-
------------------------------------------------------------------------------------------------------------------------------------
DATES ACTION RESPONSIBILITY
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
22-24 January . Announcement of the transaction/press release . HA/JPM/Contributing
Shareholders.
. Preliminary contact with potential Court appointed auditor (Xxxx-Xxxxxx Xxxxxx)
. Preliminary contact with Societe des Bourses Francaises ("SBF"), Conseil des Marches . HA/LA/BP
Financiers ("CMF"), and Commission des Operations de Bourse ("COB").
. Start drafting * projet de traite d'apport * . HA/LA/BP
. Start drafting Prospectus (* Schema E *)/1/, preparation of the summarised
consolidated accounts of MPG for 1998, 1999, 2000 . JPM/BP
. Filing of request for the appointment of an Auditor (* commissaires aux apports * )
with the Nanterre Commercial Court (suggestion of a candidate will be made to the . HA/BP
Court which may appoint two auditors)
------------------------------------------------------------------------------------------------------------------------------------
31 January . Notice to HA in relation to be increase in share capital under clause 2.6. (ii). . Contributing
Shareholders
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
_____________________
/1/ A * Document (for Schema) E * is required pursuant to French Stock Exchange
rules in the case of a merger or contribution in kind. When a Document
E is prepared a formal prospectus is not required for the listing of
the shares resulting from the contribution on this Paris Stock
Exchange.
________________________________________________________________________________
-3-
------------------------------------------------------------------------------------------------------------------------------------
DATES ACTION RESPONSIBILITY
------------------------------------------------------------------------------------------------------------------------------------
1 February . Appointment of the Auditor(s) by the Nanterre Commercial Court
------------------------------------------------------------------------------------------------------------------------------------
. HA/ Contributing
9 February . Execution of US Registration Rights Agreement Shareholders
------------------------------------------------------------------------------------------------------------------------------------
28 February . First draft report from Court appointed Auditor available /2/ . Court-appointed Auditor(s)
------------------------------------------------------------------------------------------------------------------------------------
15 March . HA 2000 accounts available . JPM/HA
. Draft Schema E provided to COB . JPM/BP
. Report from Court-appointed Auditor(s) made available to HA's Board of
Directors (valuation of the shares contributed and opinion on exchange parity) . HA/BP/LA
. Meeting of HA's Board of Directors to approve the draft Contribution Agreement,
the draft Schema E and giving power to Alain de Pouzilhac/ Xxxxxxx Xxxxxx to
execute the Contribution Agreement and convening the EGM . HA/BP/LA
------------------------------------------------------------------------------------------------------------------------------------
/2/ The period allowed for the preparation of the report will not be achieved
unless full cooperation from the Auditors(s) is granted.
-4-
------------------------------------------------------------------------------------------------------------------------------------
DATES ACTION RESPONSIBILITY
------------------------------------------------------------------------------------------------------------------------------------
. Execution of Contribution Agreement . HA/Founders'
representative
------------------------------------------------------------------------------------------------------------------------------------
6 April . Filing with COB of final Schema E, executed Contribution Agreement and of the
the draft report from the Auditors(s) . HA/BP
------------------------------------------------------------------------------------------------------------------------------------
11 April . Publication of the notice announcing HA's EGM ("avis de reunion") in BALO and
in national newspaper (with draft resolutions). . HA
. Convening of the Statutory Auditors and Auditor(s) for the EGM . HA
------------------------------------------------------------------------------------------------------------------------------------
24 April . Filing with BALO of the "avis de convocation" . HA
------------------------------------------------------------------------------------------------------------------------------------
25 April . Registration of Schema E by COB . COB
. Proof reading of BALO publication . HA
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
-5-
------------------------------------------------------------------------------------------------------------------------------------
DATES ACTION RESPONSIBILITY
------------------------------------------------------------------------------------------------------------------------------------
27 April . Publication of HA's EGM convening notice "avis de convocation" by BALO. . HA
. Schema E registered by COB . HA/Court appointed
Final report from the Auditor(s) auditor
and all other required documents made available to shareholders at HA's
head office
------------------------------------------------------------------------------------------------------------------------------------
7 May . Filing of the final Auditor(s) report with the Nanterre Corporate Registry . HA
and report made available at the HA's headquarters
------------------------------------------------------------------------------------------------------------------------------------
10 May . Stock options allocation . MPG
------------------------------------------------------------------------------------------------------------------------------------
18 May . HA's EGM (1st call) . HA
("D" day
"initial" or . Convening of "2/nd/ call EGM" . HA
1/st/ call)
------------------------------------------------------------------------------------------------------------------------------------
-6-
------------------------------------------------------------------------------------------------------------------------------------
DATES ACTION RESPONSIBILITY
------------------------------------------------------------------------------------------------------------------------------------
25 May . HA's EGM: . HA
("final" or
2/nd/ call) Contribution of 49.5% and sale of 5.5% of the shares of MPG to HA
increase of HA's share capital (28.8 million New HA Shares)
appointment of Messrs. Xxxxxxxx Xxxxx, Xxxxxx March and ratification of Xxxxxxxx Xxxxx
on to the HA Board
. Filing with the SBF of a copy of the minutes of the EGM and request for admission of
the newly issued HA shares on the Paris Stock Exchange . HA
. Board of Directors of HA (including newly appointed or ratified members) for the purpose
of putting in place new stock option plan (300,000 stock options), appointment of members
of committees etc. . HA
------------------------------------------------------------------------------------------------------------------------------------
28 May . Certificate of registration of the New HA Shares in the name of each contributing
shareholders provided by HA's bank . HA
. Publication of an SBF notice (admission of the new shares for trading on the Paris
Stock Exchange) . HA
. Request for registration of the New HA Shares with SICOVAM . HA
. Declaration of the number of new total number of voting rights and filing with BALO
of a notice with this respect . HA
. Notice to CMF that a threshold has been passed (if any). . HA
------------------------------------------------------------------------------------------------------------------------------------
-7-
------------------------------------------------------------------------------------------------------------------------------------
DATES ACTION RESPONSIBILITY
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
31 May . Publication of notice relating to voting rights with BALO . HA
------------------------------------------------------------------------------------------------------------------------------------
BP : Cabinet Xxxxxx Prat
HA : Havas Advertising
JPM : JPMorgan
LA : Linklaters & Alliance (Madrid)
-8-
ANNEX 2.4 (i)
CALCULATION OF FULLY-PAID-UP HA SHARES FOR THE YEAR 2000 BY
TREASURY METHOD
----------------------------------------------------------------------------------------------------------
Year 2000
----------------------------------------------------------------------------------------------------------
Share price assumption 15,00
----------------------------------------------------------------------------------------------------------
Nb Shares
----------------------------------------------------------------------------------------------------------
SOP 2.510.760
----------------------------------------------------------------------------------------------------------
Xxxxxx 19.609.020
----------------------------------------------------------------------------------------------------------
BSA 0
----------------------------------------------------------------------------------------------------------
Xxxxxx 100.751.047
----------------------------------------------------------------------------------------------------------
Shares issued 274.760.387
----------------------------------------------------------------------------------------------------------
Treasury Stock 6.000.000
----------------------------------------------------------------------------------------------------------
Net shares o/s 268.760.387
----------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------
Nouvelles emissions d'obligations convertibles
pour financier les besoins de croissance de HA
debut 2001 et 2002
----------------------------------------------------------------------------------------------------------
Nb d'Oc emises (en NOSH) -0
----------------------------------------------------------------------------------------------------------
Prime de conversion sur cours moyen n-1
----------------------------------------------------------------------------------------------------------
Pair
----------------------------------------------------------------------------------------------------------
Montant
----------------------------------------------------------------------------------------------------------
Montant cumule de la nouvelle dette emise
----------------------------------------------------------------------------------------------------------
Economie d'interets dans la calcula fully diluted
----------------------------------------------------------------------------------------------------------
Nb Options
----------------------------------------------------------------------------------------------------------
Warrants (BSA) 5.696.260
----------------------------------------------------------------------------------------------------------
Stock Options (cumul av.emission) 15.232.142
----------------------------------------------------------------------------------------------------------
Emission annuelle de SOP 9.616.614
----------------------------------------------------------------------------------------------------------
Nlles s/0 (% actions emises n-1) 3,5%
----------------------------------------------------------------------------------------------------------
Moyenne nouvelles SOP 801.384
----------------------------------------------------------------------------------------------------------
Call Options (OSA) 6.000.000
----------------------------------------------------------------------------------------------------------
Nb Shares total potentiel 296.490.173
----------------------------------------------------------------------------------------------------------
-1-
----------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------
Avg Ex Price
----------------------------------------------------------------------------------------------------------
Warrants (BSA) 9,15
----------------------------------------------------------------------------------------------------------
Stock Options 10,60
----------------------------------------------------------------------------------------------------------
Call Options (OSA) 4,61
----------------------------------------------------------------------------------------------------------
8,48
----------------------------------------------------------------------------------------------------------
Cash from exercise
----------------------------------------------------------------------------------------------------------
Warrants (BSA) 52.103.354
----------------------------------------------------------------------------------------------------------
Stock Options (cumul av.emission) 157.921.610
----------------------------------------------------------------------------------------------------------
Moyenne nouvelles SOP 12.020.767
----------------------------------------------------------------------------------------------------------
Call Options (OSA) 27.669.497
----------------------------------------------------------------------------------------------------------
249.715.228
----------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------
Buybacks 16.647.682
----------------------------------------------------------------------------------------------------------
Fully-diluted NOSH 279.842.492
----------------------------------------------------------------------------------------------------------
These amounts are estimated; however HA undertakes that the amount of the
fully diluted share capital will not be modified, and will provide in 15 days
the calculation made as of December 31/st/., 2000.
---------------------------------------------------------------------------------------------------------------
Preconvert. Exch. Fully diluted (e)
---------------------------------------------------------------------------------------------------------------
Number of sh mm % mm %
---------------------------------------------------------------------------------------------------------------
Vivendi 29,9 10,1 29,9 9,7
---------------------------------------------------------------------------------------------------------------
Treasury Stock 6,2 2,1 0,0 0,0
---------------------------------------------------------------------------------------------------------------
Other 230,4 78,0 249,9 81,0
---------------------------------------------------------------------------------------------------------------
Total HA 266,5 90,2 279,8 90,7
---------------------------------------------------------------------------------------------------------------
MPG Founders 28,8 9,8 28,8 9,3
---------------------------------------------------------------------------------------------------------------
Total HA + MPG Founders 295,3 100 308,6 100
---------------------------------------------------------------------------------------------------------------
Fully diluted is not impacted by the 00 convertible bond as it is not dilutive.
-2-
ANNEX 2.6
REQUIREMENTS TO BE MET BY HA IN ORDER TO COMPLY WITH LAW 43/1995
1. According to Article 110 of Law 43/1995, the corporate resolution agreement
or Public Deed of capital increase by way of non-monetary contribution of
HA must expressly declare that HA has chosen the tax regime established
under Title VIII, Chapter VIII of the above mentioned Law.
2. HA's first Annual Memory after the exchange shall mention that several
shareholders have chosen the tax regime above mentioned indicating date and
price of acquisition of the contributed shares.
3. HA as purchaser of the shares will notify the Spanish Tax Authorities
together with the contributors of the first tranche provided for in clause
2.6. (i) the choice of this specific tax regime.
-3-
ANNEX 4.3.2
KEY EXECUTIVES EMPLOYED BY MPG
Xxxxxxxx Xxxxx.
Xxxxxxxx Xxxxx.
Xxxxxxx Xxxxx.
Xxxxx Xxxxxxx.
Xxxxxxx Xxxx.
Xxxxxxx Xxxxxxxxx.
Xxxxx Xxxxx Xxxxxxxx.
-4-
ANNEX 5.1 (iv)
UNDERTAKING BY THE 5% TRANSFEREES IN RELATION TO THE LOCK-UP
PROVISIONS
I hereby irrevocably undertake to HA severally not to directly or
indirectly, sell, transfer, contribute, or otherwise dispose of (including,
by way of pledge or other form of security) or grant or acquire any rights
or obligations in respect of any of my ________ Havas Advertising S.A.
shares acquired on ___ to any party (other than to the MPG Founders,
Related Parties or 5% Transferees as defined in the Agreement to Contribute
executed between the French company Havas Advertising, S.A. and
shareholders of the Spanish Media Planning Group, S.A. on 20 January 2001)
prior to 31 December 2001.
This undertaking shall not apply or shall automatically terminate should
any of the events detailed in the Schedule to this letter hereto occur.
All capitalised words in this letter and the Schedule will have the same
meaning as defined in the Agreement to Contribute.
__________________________________
SIGNED by
Acknowledged:
__________________________________
Havas Advertising, S.A.
-5-
SCHEDULE TO ANNEX 5.1.(iv)
SCHEDULE: TERMINATION EVENTS
1. Any public tender offer of acquisition of or exchange for (OPA, OPE) shares
of Havas Advertising, S.A. officially launched, and only in respect of such
offer during the period in which such offer is open.
2. In the event that any unsolicited (i.e. hostile) public tender offer of
acquisition of or exchange for (OPA, OPE) shares of HA be officially
launched for a percentage of Havas Advertising, S.A. share capital and
succeed in giving the purchasers launching such unsolicited public tender
offer control of HA.
3. In the event of any transaction, involving the exchange of shares of HA
(such as a merger) formally recommended by the Board of HA and only in
respect of such transaction.
4. In the event that Xx. Xxxxxxxx Xxxxx, Xx. Xxxxxxxx Xxxxx or Xx. Xxxxxx
March (or any substitute therefor designated by the MPG Founders) be
removed from the Board of Havas Advertising, S.A. or any proposed
substitute (approved by the current Chairman, as at 20 January 2001) fails
to be appointed within 30 days of the request by the MPG Founders.
5. In the event that Xx. Xxxxxxxx Xxxxx be removed from his position as CEO
("Consejero Delegado") of MPG.
6. In addition to the foregoing, during the Lock-Up Period, the persons
subject to the Lock-Up shall be permitted to pledge their New HA Shares
provided that each of the following conditions is met:
(a) the terms on which any such New HA Shares are pledged prevent the
pledgee from disposing of such New HA Shares in any manner whatsoever
(including, but not limited to, transferring , selling, lending,
pledging and granting rights to third parties in respect thereof)
during the period of the Lock-Up without the prior consent of HA;
(b) all of the sums secured by the pledge of the New HA Shares are fully
invested in the acquisition of shares of HA;
(c) if the terms on which any such New HA Shares are pledged include a
top-up clause ("clause d'arrosage"), the maximum top-up amount in HA
Shares must not exceed the maximum number of shares acquired using the
sums secured by the pledged New HA Shares;
(d) either a copy of the pledge agreement and of the clauses in the loan
or similar agreement detailing the foregoing or a letter from the
lender (or similar entity) confirming the terms and conditions of the
loan (or similar agreement) and the pledge is provided to HA prior to
any such pledge of the New HA Shares becoming effective to enable HA
to ensure that the terms and conditions of the loan and pledge
correspond to the foregoing.
7. In the event that the Board of Directors of Havas Advertising, S.A. approve
(or propose to the General Shareholders' Meeting the approval of), with the
negative vote of Xx. Xxxxxxxx Xxxxx, any Extraordinary Transaction, or any
resolution related to any Extraordinary
Transaction, which Extraordinary Transaction would, in accordance with the
terms and conditions thereof, close before the Completion Date.
On 1 January 2002, or upon the occurrence of any of the events numbered in
paragraphs (2), (4), (5) or (7) above, the Lock-Up Period finalises and the
persons concerned shall be free to dispose or encumber the New HA Shares without
any restrictions whatsoever.
The defined terms referred to above shall bear the same meanings as those
specified in the definitions in the Agreement to Contribute.
-7-
Annex 5.2. (ii)
. If the MPG Founders request that the Company file a registration statement
at any time after the expiration of the Lock-Up Period covering the New HA
Shares, HA shall cause such registration statement to be filed within a
reasonable period of time (including reasonable time required to prepare
any necessary financial statements for inclusion therein) to be specified
after such request, and shall use its reasonable best efforts to cause such
registration statement to become effective as promptly as practicable,
provided that the value of the securities to be registered pursuant to such
--------
any request must be equal to or greater than seventy-five (75) million
Euros. The lead managing underwriter of the offering shall be selected by
the MPG Founders initiating such demand and shall be an investment banking
firm of nationally recognized standing in the U.S. reasonably satisfactory
to HA.
. HA shall not be obligated to effect more than four (4) registrations under
the demand right provision noted above, and not more than one (1)
registration in any twelve (12) month period. Such four (4) registrations
under the demand right provision noted above shall be in addition to any
demand for a Form F-3 shelf registration noted below. Sales of New HA
Shares pursuant to any demand registration noted above shall be pursuant to
underwritten offerings only, although sales covered by any F-3 shelf
registration statement noted below need not be by underwritten offering.
. HA shall be entitled to postpone a demand and the effectiveness of a
registration statement, and to suspend an existing registration statement,
(1) for no more than ninety (90) days if HA is in possession of material
information that has not been disclosed, and its executive committee in
good xxxxx xxxxx it advisable not to disclose, to the public or, (2) for no
more than one hundred eighty (180) days if HA in good faith determines a
registration or public offering of New HA Shares in the United States will
materially interfere with certain material transactions being pursued or
which are the subject of firm plans by HA, provided that HA shall not be
--------
entitled to such postponements and/or suspensions at any time within one
hundred twenty (120) days following the termination of any postponement
and/or suspension pursuant to clause (1) above, or one hundred eighty (180)
days following the termination of any postponement and/or suspension
pursuant to clause (2) above, and such postponements and/or suspensions
shall not extend more than seven (7) days after the abandonment or
consummation of any of the foregoing situations or transactions.
. The MPG Founders shall be entitled to reasonable rights to withdraw demands
prior to the effectiveness of any registration statement applicable to New
HA Shares, provided, however, that a withdrawn demand (other than the first
-------- -------
two (2) of any such withdrawn demands, provided that the MPG Founders bear
--------
all out-of-pocket expenses incurred by HA in connection with such withdrawn
demands) shall count as a demand under the demand right provision noted
above. No demand that is withdrawn following its postponement and/or
suspension by HA shall count as a demand under the demand right provision
noted above, provided that the demand is withdrawn prior to the tenth day
--------
after the end of the postponement or suspension.
. If available for use by HA, the MPG Founders shall be entitled to one Form
F-3 shelf registration. HA shall use its reasonable best efforts to keep
the Form F-3 shelf registration statement updated and continually effective
until termination of the registration rights of all MPG Founders, subject
to the postponement and suspension rights of HA noted above.
. Each of the MPG Founders who are affiliates of HA shall be entitled to
piggyback registration rights in connection with underwritten registrations
and sales of ordinary shares
-8-
in the U.S. for the account of HA (other than registrations and sales
(excluding registrations and sales of ordinary shares by HA for cash) in
connection with mergers, acquisitions, exchange offers, dividend
reinvestment plans or employee benefit plans) or selling shareholders
exercising registration rights, subject to customary underwriters'
cutbacks. HA shall not be obligated to effect any registration within one
hundred fifty (150) days after the MPG Founders have been entitled to
exercise piggyback registration rights, provided the number of New HA
--------
Shares requested by participating MPG Founders to be included in such
registration was not cut back.
. HA shall bear all expenses related to any demand registration, F-3 shelf
registration, or piggyback registration, except (1) the cost of any
underwriting discounts or commissions, brokerage and sales commissions,
fees and disbursements of counsel for the MPG Founders (other than fees and
disbursements not in excess of $20,000 relating to the delivery by the MPG
Founders of any "disclosure letter" under the U.S. federal securities laws,
which will be borne by HA), and transfer taxes in connection with sale of
the New HA Shares by the MPG Founders and (2) any out-of-pocket expenses
incurred by HA in connection with any withdrawn demand that does not count
as a demand under the demand right provision noted above (which shall be
borne by the MPG Founders).
. HA shall bear all expenses related to the registration and preparation of
prospectus or equivalent documents and related to any investor roadshows,
except for the expenses to be borne by the MPG Founders noted above.
. The registration rights may not be assigned without the written consent of
HA, provided that any registration rights of the MPG Founders may be
--------
transferred freely among the MPG Founders, to any affiliate of any MPG
Founder or to any 5% Transferee. Any person to whom registration rights are
validly transferred under this section shall be entitled to the rights of
an MPG Founder under Section 5.2 of the Contribution Agreement and the
registration rights agreement.
. HA shall not be required to effect any registration pursuant to the
registration rights prior to the expiration of the Lock-Up Period, and the
registration rights shall terminate, as to each MPG Founder, on the earlier
of (1) five (5) years after the date of expiration of the Lock Up Period,
(2) the date on which such MPG Founder shall have sold his New HA Shares,
and (3) in the case of F-3 shelf registration or piggyback registration,
the date such MPG Founder is no longer an affiliate of HA.
. In the case of an underwritten public offering, HA shall take such actions
as are reasonably necessary and useful, including instructing appropriate
members of management to be available upon reasonable notice in order to
expedite and facilitate the registration, marketing and disposition of the
New HA Shares by the MPG Founders pursuant to the registration rights and
in connection with the sales efforts. In the case of non-underwritten
offerings under a F-3 shelf registration, HA shall, upon the reasonable
request of the MPG Founders, take such reasonable commercial actions as are
reasonably required to expedite or facilitate sales (reasonableness to be
determined in light of, among other things, the size of the offering).
. HA shall take all reasonable action to permit the sale of the New HA Shares
to the public in the United States without registration under the
Securities Act pursuant to Rule 144 under the Securities Act.
-9-
. Each MPG Founder shall agree to any reasonable lock-up requested by any
underwriter or investment bank in connection with any sale or distribution
by HA of its shares during the period such MPG Founder has registration
rights.
. Whenever HA is required to effect a registration of the New HA Shares under
the registration rights agreement, it shall use its reasonable best efforts
to cause the New HA Shares subject to the registration to be listed on each
national securities exchange or quotation system on which HA ordinary
shares (or American Depositary Shares representing HA ordinary shares) are
then listed.
. For purposes of this Annex 5.2(ii), "New HA Shares" shall be deemed to
include the Put HA Shares.
-10-
ANNEX 6.8
PARTIES JOINT PRESS RELEASE
-11-
Contacts:
France: Havas Advertising
Xxxxx-Xxxxxx Xxxx
33 1 41 34 30 16
POUR DISTRIBUTION INMEDIATE
---------------------------
HAVAS ADVERTISING VA DETENIR 100% DE MEDIA PLANNING GROUP
DONT LES ACTIONNAIRES ESPAGNOLS DETIENDRONT
EN CONTREPARTIE 9,3% D'HAVAS ADVERTISING
HavasAdvertising qui detient deja 45% du capital de Media Planning Group va
recevoir le 55% restant en contrepartie de l'emission de 28,8 millions
d'actions nouvelles et d'un paiement de 51 M Eur.
La famille Xxxxx, Grupo March, BBVA et BSCH,
actionnaires de Media Planning Group, ont manifeste
l'intention d'etre des actionnaires a long terme
d'Havas Advertising.
Le controle integral des activites de Media Planning Group va
permettre d'accelerer sa croissance et de figurer parmi les
cinq premiers groupes mondiaux media avant la fin 2003.
Les termes de la transaction respectent
les criteres d'Havas Advertising en
termes de creation de valeur et de
benefice par action.
--------------------------------------------------------------------------------
PARIS, FRANCE et BARCELONE, ESPAGNE, janvier 22, 2001 - Havas Advertising
(Euronext Paris SA : XXX.XX ; Nasdaq : HADV), 4eme groupe mondial de conseil en
communication, et actionnaire a 45 % de Media Planning Group, groupe media
mondial independant de premier plan, et les actionnaires espagnols de Media
Planning Group annoncent aujourd'hui la signature d'un accord aux termes duquel
Havas Advertising detiendra 100% du capital de Media Planning Group, les
actionnaires espagnols de ce dernier detenant 9,3% d'Havas Advertising sur une
base totalement diluee.
Selon les termes de l'accord, qui a ete approuve a l'unanimite par le
Conseil d'administration d'Havas Advertising du 19 janvier 2001, l'apport a
Havas Advertising des 55% du capital de Media Planning Group qu'il ne detenait
pas encore sera remunere par l'emission de 28,8 millions d'actions nouvelles et
par un paiement de 51 M.
Cet accord est pour Havas Advertising et Media Planning Group
l'aboutissement d'une cooperation entamee en mars 1999 avec la fusion de Media
Planning et des activites media du groupe Havas Advertising.
Media Planning Group, qui est la division media d'Havas Advertising,
conservera son siege a Barcelone. Son conseil d'administration sera resserre,
Xxxxxxxx Xxxxx Castane conservant la fonction de Chairman et Xxxxxxxx Xxxxx Vila
celle de CEO.
Xxxxxxxx Xxxxx Vila a ete coopte comme Administrateur d'Havas Advertising
au cours du Conseil d'Administration du 19 janvier 2001. Il continuera a assurer
ses fonctions au sein du Comite Executif du groupe. Xxxxxxxx Xxxxx Castane et
Xxxxxx March Xxxxxxx, President de Corporacion Alba, vont devenir Membres du
Conseil d'Administration d'Havas Advertising.
Nous sommes extremement satisfaits de cet accord avec Media Planning
Group. En pres de deux ans de collaboration nous avons pu nous rendre compte que
nous partagions la meme philosophie, la meme culture et le meme souci
d'excellence dans le service que nous apportons a nos clients >> a commente
Alain de Pouzilhac, avant de poursuivre :
Cet accord nous permettra de :
. renforcer notre position de leader en Amerique Latine et en Europe et
accelerer le developpement de notre activite media dans les zones dans
lesquelles Havas Advertising est fortement implante, en particulier
les Etats-Unis et la zone Asie Pacifique; et,
. d'accelerer l'integration des activites media xx Xxxxxx
Communications
Enfin Alain de Pouzilhac a conclu : Nous souhaitons la bienvenue aux
actionnaires de Media Planning Group et nous nous rejouissons qu'ils aient
manifeste l'intention xx xxxxxx des actionnaires a long terme de notre groupe.
Nous sommes heureux de l'arrivee de Messieurs Xxxxxx March Xxxxxxx, Xxxxxxxx
Xxxxx Xxxxxxx et Xxxxxxxx Xxxxx Vila, comme Membres du Conseil d'Administration
d'Havas Advertising au sein duquel nous sommes persuades qu'ils vont jouer un
role important
Xxxxxxxx Xxxxx Vila, Chief Executive Officer de Media Planning Group,
Administrateur et membre du comite executif d'Havas Advertising a declare :
Nous sommes enchantes de renforcer la collaboration entamee il y a deux ans avec
Havas Advertising. Notre alliance a genere de la croissance et de la valeur
au-dela de nos previsions initiales et nous sommes convaincus qu'il existe un
potentiel encore plus important
que nous atteindrons plus facilement a xxxxxxx l'accord que nous annoncons
aujourd'hui. Nous sommes egalement persuades que grace a l'acceleration de notre
strategie et a la flexibilite renforcee resultant de cet accord nous sommes en
mesure de faire une offre incomparable a nos clients.
Nous croyons fermement qu'il s'agit d'une formidable opportunite pour nos
actionnaires et nos collaborateurs de faire partie d'un groupe leader en matiere
de conseil en communication et d'activite media, groupe avec lequel nous
partageons une meme vision de la croissance, du leadership et de la creation de
valeur >>
La transaction devrait etre neutre ou legerement relutive en termes de
benefice net par action avant amortissement du goodwill des 2001 et devrait
fortement contribuer a la croissance des benefices au cours des annees
suivantes.
L'accord est soumis a l'approbation des actionnaires d'Havas Advertising et
aux conditions suspensives usuelles.
The Company will host a conference call today, Monday 22 January 2001, at
9:00 AM EST (3:00 PM French Time). Callers from the United States should use
000-000-0000 and International callers should use x00-0000-000-000. There will
be a 48-hour replay of the call beginning today at 11:00 AM EST and ending on
January 24, 2001 at 11:00 AM EST. Please dial x0-000-000-0000 or x0-000-000-0000
and provide the passcode, 00000000. This call will also be broadcast live over
the Internet at xxx.xxxxx-xxxxxxxxxxx.xxx and xxx.xxxxx-xxxxxxxxxxx.xx. To
access the webcast, participants should visit the Havas Advertising web site at
least fifteen minutes prior to the start of the call to download and install any
necessary audio software. There will be a replay of the webcast available for 30
days.
Havas Advertising est conseille par X.X. Xxxxxx pour cette transaction.
# # #
About Havas Advertising
Havas Advertising (Nasdaq: HADV; Euronext Paris SA: XXX.XX) is the world's
fourth largest communications group*. Based in Paris, Havas Advertising has four
operating divisions - Euro RSCG Worldwide, headquartered in New York, NY, Media
Planning Group in Barcelona, Spain, Diversified Agencies Group in Paris, France
and Xxxxxx Worldwide
Partners, headquartered in Boston, Massachusetts. Havas Advertising brings a
multicultural approach to its business that distinguishes it from other major
communications companies. Havas Advertising has a presence in 75 countries.
Havas Advertising offers a complete line of communications services, including
general advertising, direct marketing, media planning and buying, corporate
communications, sales promotion, design, sports marketing, human resources,
multimedia interactive communications and public relations. Havas Advertising
has a worldwide presence of over 250 agencies and a staff of approximately
20,000.
Further information on Havas Advertising can be found on the company's web site
at: xxx.xxxxx-xxxxxxxxxxx.xxx or in Havas Advertising's registration statement
-------------------------
on Form F-4 filed with the SEC (SEC file #333-43362), which may be obtained free
of charge at the SEC's website, xxx.xxx.xxx.
* Advertising Age Annual Agency Report ranking, April 24, 2000
About Media Planning Group
Media Planning Group, which had billings of US$8,450 mm in 2000, is a leading
media agency worldwide. It employs approximately 2,000 professionals and is
present in more than 15 markets throughout Europe, the United States and Latin
America, a coverage of 76% of worldwide advertising investment. The Group's
activity is focused on research, strategic planning and media procurement aimed
at increasing the value of its clients' brands. Media Planning Group integrates
three business units: two media agencies, Media Planning and Arena, and one
interactive agency, Media Contacts.
Further information on Media Planning can be found on the company's web site at:
xxx.xxxxxxx.xxx
---------------
FORWARD-LOOKING INFORMATION
This document contains certain "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements are
based on management's current expectations and are subject to uncertainty and
changes in circumstances. Forward-looking statements can be identified by the
fact that they do not relate strictly to historical or current facts. They often
include words like "believe," "expect," "anticipate," "estimated," "pro forma,"
and "intend" or future or conditional verbs such as "will," "would," or "may."
Certain factors that could cause actual results to differ materially from
expected results include changes in global economic, business, competitive
market and regulatory factors. More detailed information about these factors is
contained in Havas Advertising's filings with the Securities and Xxxxxxxx
Xxxxxxxxxx.
# # # #
Xxxxxxxx:
France: Havas Advertising
Xxxxx-Xxxxxx Xxxx
33 1 41 34 30 16
FOR IMMEDIATE RELEASE
---------------------
HAVAS ADVERTISING INCREASES PARTICIPATION IN MEDIA PLANNING
GROUP TO 100%, IN EXCHANGE FOR A 9.3% STAKE IN HAVAS ADVERTISING
Havas Advertising, which already owns 45% of the share capital of Media
Planning Group will receive the remaining 55% in exchange for 28.8 million
new Havas Advertising shares and Euro 51 million in cash
The Xxxxx family, Grupo March, BBVA and BSCH, shareholders of
Media Planning Group, will play an active role as long term
strategic shareholders in
Havas Advertising
Consolidation of Media Planning Group will enable accelerated growth
of media operations, to rank among the Top 5
media companies worldwide before the end of 2003
Transaction terms consistent with Havas Advertising's criteria of value
creation and earnings accretion to its shareholders
--------------------------------------------------------------------------------
PARIS, FRANCE and BARCELONA, SPAIN, January 22, 2001 - Havas Advertising
(Nasdaq : HADV, Euronext Paris SA : XXX.XX), the world's fourth largest
advertising communications group and owner of a 45% stake in the global leading
independent media company Media Planning Group, and the Spanish shareholders of
Media Planning Group today announced a definitive agreement under which Havas
Advertising will hold 100% of the share capital of Media Planning Group and the
Spanish shareholders of Media Planning Group will hold 9.3% of the fully diluted
share capital of Havas Advertising.
Under the terms of the agreement, which was unanimously approved by the
Board of Directors of Havas Advertising on 19 January 2001, Havas Advertising
will pay Media Planning Group shareholders 28.8 million new Havas Advertising
shares and 51 million in cash in exchange for their 55% holding in Media
Planning Group.
Through this transaction, Havas Advertising and Media Planning Group fulfil
a cooperation effort which started with the initial merger in March 1999 of
Media Planning and the media activities of Havas Advertising.
Media Planning Group, as the media division of Havas Advertising, will
continue to operate from its headquarters in Barcelona, with a reduced Board of
Directors, and with Xxxxxxxx Xxxxx Castane as Chairman and Xxxxxxxx Xxxxx Vila
as CEO.
Xxxxxxxx Xxxxx Vila was co-opted as Member of the Board of Havas
Advertising during the Board of Directors meeting held on January 19, 2001. He
will also continue in his role as member of the Executive Committee. Xxxxxxxx
Xxxxx Castane and Xxxxxx March Xxxxxxx, Chairman of Corporacion Alba, will join
the Board of Havas Advertising as non-executive Directors.
Commenting on the transaction, Alain de Pouzilhac, Chairman and Chief
Executive Officer of Havas Advertising, said, "We are very excited about this
new step in our relationship with Media Planning Group. Through almost two years
of partnership with Media Planning Group we have learned that we share a common
philosophy and culture and the same drive for excellence in servicing our
clients.
This transaction will allow us to:
. consolidate our leadership position in Latin America and European
markets and greatly accelerate the expansion of the media business in
other areas where Havas Advertising has a strong presence,
particularly in the United States and Asia Pacific;
. accelerate the integration of Xxxxxx'x media business."
With regard to the shareholders of Media Planning Group, de Pouzilhac
added: "We welcome the shareholders of Media Planning Group and appreciate the
commitment they have expressed to become long term strategic investors in the
company. We are proud to welcome Xxxxxx March Xxxxxxx, Xxxxxxxx Xxxxx Xxxxxxx,
and Xxxxxxxx Xxxxx Vila as members of Havas Advertising's Board and are
confident of the important role they will play."
Xxxxxxxx Xxxxx Vila, Chief Executive Officer of Media Planning Group and
member of the Executive Committee of Havas Advertising, said, "We are
tremendously excited about taking the relationship we initiated with Havas
Advertising two years ago one step further. Our experience together has resulted
in growth and value creation beyond our initial expectations and we believe that
there is further significant potential which will be best
accessed through the transaction we announce today. We also believe that,
through the acceleration of our strategy and the enhanced flexibility resulting
from the transaction, we will offer our clients an unbeatable proposition.
We strongly believe that this is a great opportunity for our shareholders
and employees to become an important part of a leading media and advertising
group with whom we share a common vision of growth, leadership and value
creation."
The transaction is expected to be neutral or slightly accretive to cash
earnings per share from 2001 and to significantly contribute to earnings growth
in subsequent years.
The transaction is subject to approval by the shareholders of Havas
Advertising and customary closing conditions.
The Company will host a conference call today, Monday 22 January 2001, at
9:00 AM EST (3:00 PM French Time). Callers from the United States should use
000-000-0000 and International callers should use x00-0000-000-000. There will
be a 48-hour replay of the call beginning today at 11:00 AM EST and ending on
January 24, 2001 at 11:00 AM EST. Please dial x0-000-000-0000 or x0-000-000-0000
and provide the passcode, 00000000. This call will also be broadcast live over
the Internet at xxx.xxxxx-xxxxxxxxxxx.xxx and xxx.xxxxx-xxxxxxxxxxx.xx. To
access the webcast, participants should visit the Havas Advertising web site at
least fifteen minutes prior to the start of the call to download and install any
necessary audio software. There will be a replay of the webcast available for 30
days.
X.X. Xxxxxx is acting as financial advisor to Havas Advertising on this
transaction.
# # #
About Havas Advertising
Havas Advertising (Nasdaq: HADV; Euronext Paris SA: XXX.XX) is the world's
fourth largest communications group*. Based in Paris, Havas Advertising has four
operating divisions - Euro RSCG Worldwide, headquartered in New York, NY, Media
Planning Group in Barcelona, Spain, Diversified Agencies Group in Paris, France
and Xxxxxx Worldwide Partners, headquartered in Boston, Massachusetts. Havas
Advertising brings a multicultural approach to its business that distinguishes
it from other major communications companies. Havas Advertising has a presence
in 75 countries. Havas Advertising offers a complete line of
communications services, including general advertising, direct marketing, media
planning and buying, corporate communications, sales promotion, design, sports
marketing, human resources, multimedia interactive communications and public
relations. Havas Advertising has a worldwide presence of over 250 agencies and a
staff of approximately 20,000.
Further information on Havas Advertising can be found on the company's web site
at: xxx.xxxxx-xxxxxxxxxxx.xxx or in Havas Advertising's registration statement
-------------------------
on Form F-4 filed with the SEC (SEC file #333-43362), which may be obtained free
of charge at the SEC's website, xxx.xxx.xxx.
* Advertising Age Annual Agency Report ranking, April 24, 2000
About Media Planning Group
Media Planning Group, which had billings of US$8,450 mm in 2000, is a leading
media agency worldwide. It employs approximately 2,000 professionals and is
present in more than 15 markets throughout Europe, the United States and Latin
America, a coverage of 76% of worldwide advertising investment. The Group's
activity is focused on research, strategic planning and media procurement aimed
at increasing the value of its clients' brands. Media Planning Group integrates
three business units: two media agencies, Media Planning and Arena, and one
interactive agency, Media Contacts.
Further information on Media Planning can be found on the company's web site at:
xxx.xxxxxxx.xxx
FORWARD-LOOKING INFORMATION
This document contains certain "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements are
based on management's current expectations and are subject to uncertainty and
changes in circumstances. Forward-looking statements can be identified by the
fact that they do not relate strictly to historical or current facts. They often
include words like "believe," "expect," "anticipate," "estimated," "pro forma,"
and "intend" or future or conditional verbs such as "will," "would," or "may."
Certain factors that could cause actual results to differ materially from
expected results include changes in global economic, business, competitive
market and regulatory factors. More detailed information about these factors is
contained in Havas Advertising's filings with the Securities and Xxxxxxxx
Xxxxxxxxxx.
# # # #
Xxxxxxxx:
France: Havas Advertising
Xxxxx-Xxxxxx Xxxx
33 1 41 34 30 16
FOR IMMEDIATE RELEASE
---------------------
HAVAS ADVERTISING INCREASES PARTICIPATION IN MEDIA PLANNING
GROUP TO 100%, IN EXCHANGE FOR A 9.3% STAKE IN HAVAS ADVERTISING
Havas Advertising, which already owns 45% of the share capital of Media
Planning Group will receive the remaining 55% in exchange for 28.8 million
new Havas Advertising shares and Euro 51 million in cash
The Xxxxx family, Grupo March, BBVA and BSCH, shareholders of
Media Planning Group, will play an active role as long term
strategic shareholders in
Havas Advertising
Consolidation of Media Planning Group will enable accelerated growth
of media operations, to rank among the Top 5
media companies worldwide before the end of 2003
Transaction terms consistent with Havas Advertising's criteria of value
creation and earnings accretion to its shareholders
--------------------------------------------------------------------------------
PARIS, FRANCE and BARCELONA, SPAIN, January 22, 2001 - Havas Advertising
(Nasdaq : HADV, Euronext Paris SA : XXX.XX), the world's fourth largest
advertising communications group and owner of a 45% stake in the global leading
independent media company Media Planning Group, and the Spanish shareholders of
Media Planning Group today announced a definitive agreement under which Havas
Advertising will hold 100% of the share capital of Media Planning Group and the
Spanish shareholders of Media Planning Group will hold 9.3% of the fully diluted
share capital of Havas Advertising.
Under the terms of the agreement, which was unanimously approved by the
Board of Directors of Havas Advertising on 19 January 2001, Havas Advertising
will pay Media Planning Group shareholders 28.8 million new Havas Advertising
shares and 51 million in cash in exchange for their 55% holding in Media
Planning Group.
Through this transaction, Havas Advertising and Media Planning Group fulfil
a cooperation effort which started with the initial merger in March 1999 of
Media Planning and the media activities of Havas Advertising.
Media Planning Group, as the media division of Havas Advertising, will
continue to operate from its headquarters in Barcelona, with a reduced Board of
Directors, and with Xxxxxxxx Xxxxx Castane as Chairman and Xxxxxxxx Xxxxx Vila
as CEO.
Xxxxxxxx Xxxxx Vila was co-opted as Member of the Board of Havas
Advertising during the Board of Directors meeting held on January 19, 2001. He
will also continue in his role as member of the Executive Committee. Xxxxxxxx
Xxxxx Castane and Xxxxxx March Xxxxxxx, Chairman of Corporacion Alba, will join
the Board of Havas Advertising as non-executive Directors.
Commenting on the transaction, Alain de Pouzilhac, Chairman and Chief
Executive Officer of Havas Advertising, said, "We are very excited about this
new step in our relationship with Media Planning Group. Through almost two years
of partnership with Media Planning Group we have learned that we share a common
philosophy and culture and the same drive for excellence in servicing our
clients.
This transaction will allow us to:
. consolidate our leadership position in Latin America and European
markets and greatly accelerate the expansion of the media business in
other areas where Havas Advertising has a strong presence,
particularly in the United States and Asia Pacific;
. accelerate the integration of Xxxxxx'x media business."
With regard to the shareholders of Media Planning Group, de Pouzilhac
added: "We welcome the shareholders of Media Planning Group and appreciate the
commitment they have expressed to become long term strategic investors in the
company. We are proud to welcome Xxxxxx March Xxxxxxx, Xxxxxxxx Xxxxx Xxxxxxx,
and Xxxxxxxx Xxxxx Vila as members of Havas Advertising's Board and are
confident of the important role they will play."
Xxxxxxxx Xxxxx Vila, Chief Executive Officer of Media Planning Group and
member of the Executive Committee of Havas Advertising, said, "We are
tremendously excited about taking the relationship we initiated with Havas
Advertising two years ago one step further. Our experience together has resulted
in growth and value creation beyond our initial expectations and we believe that
there is further significant potential which will be best
accessed through the transaction we announce today. We also believe that,
through the acceleration of our strategy and the enhanced flexibility resulting
from the transaction, we will offer our clients an unbeatable proposition.
We strongly believe that this is a great opportunity for our shareholders
and employees to become an important part of a leading media and advertising
group with whom we share a common vision of growth, leadership and value
creation."
The transaction is expected to be neutral or slightly accretive to cash
earnings per share from 2001 and to significantly contribute to earnings growth
in subsequent years.
The transaction is subject to approval by the shareholders of Havas
Advertising and customary closing conditions.
The Company will host a conference call today, Monday 22 January 2001, at
9:00 AM EST (3:00 PM French Time). Callers from the United States should use
000-000-0000 and International callers should use x00- 0000-000-000. There will
be a 48-hour replay of the call beginning today at 11:00 AM EST and ending on
January 24, 2001 at 11:00 AM EST. Please dial x0-000-000-0000 or x0-000-000-0000
and provide the passcode, 00000000. This call will also be broadcast live over
the Internet at xxx.xxxxx-xxxxxxxxxxx.xxx and xxx.xxxxx-xxxxxxxxxxx.xx. To
access the webcast, participants should visit the Havas Advertising web site at
least fifteen minutes prior to the start of the call to download and install any
necessary audio software. There will be a replay of the webcast available for 30
days.
X.X. Xxxxxx is acting as financial advisor to Havas Advertising on this
transaction.
# # #
About Havas Advertising
Havas Advertising (Nasdaq: HADV; Euronext Paris SA: XXX.XX) is the world's
fourth largest communications group*. Based in Paris, Havas Advertising has four
operating divisions - Euro RSCG Worldwide, headquartered in New York, NY, Media
Planning Group in Barcelona, Spain, Diversified Agencies Group in Paris, France
and Xxxxxx Worldwide Partners, headquartered in Boston, Massachusetts. Havas
Advertising brings a multicultural approach to its business that distinguishes
it from other major communications companies. Havas Advertising has a presence
in 75 countries. Havas Advertising offers a complete line of
communications services, including general advertising, direct marketing,
media planning and buying, corporate communications, sales promotion, design,
sports marketing, human resources, multimedia interactive communications and
public relations. Havas Advertising has a worldwide presence of over 250
agencies and a staff of approximately 20,000.
Further information on Havas Advertising can be found on the company's web site
at: xxx.xxxxx-xxxxxxxxxxx.xxx or in Havas Advertising's registration statement
-------------------------
on Form F-4 filed with the SEC (SEC file #333-43362), which may be obtained free
of charge at the SEC's website, xxx.xxx.xxx.
* Advertising Age Annual Agency Report ranking, April 24, 2000
About Media Planning Group
Media Planning Group, which had billings of US$8,450 mm in 2000, is a leading
media agency worldwide. It employs approximately 2,000 professionals and is
present in more than 15 markets throughout Europe, the United States and Latin
America, a coverage of 76% of worldwide advertising investment. The Group's
activity is focused on research, strategic planning and media procurement aimed
at increasing the value of its clients' brands. Media Planning Group integrates
three business units: two media agencies, Media Planning and Arena, and one
interactive agency, Media Contacts.
Further information on Media Planning can be found on the company's web site at:
xxx.xxxxxxx.xxx
---------------
FORWARD-LOOKING INFORMATION
This document contains certain "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements are
based on management's current expectations and are subject to uncertainty and
changes in circumstances. Forward-looking statements can be identified by the
fact that they do not relate strictly to historical or current facts. They often
include words like "believe," "expect," "anticipate," "estimated," "pro forma,"
and "intend" or future or conditional verbs such as "will," "would," or "may."
Certain factors that could cause actual results to differ materially from
expected results include changes in global economic, business, competitive
market and regulatory factors. More detailed information about these factors is
contained in Havas Advertising's filings with the Securities and Xxxxxxxx
Xxxxxxxxxx.
# # # #
Xxxxxxxxxx xx Xxxxxx / Xxxxxx
Cuarto grupo de comunicacion del mundo
--------------------------------------
Los accionistas espanoles de Media Planning Group se
convierten en el socio estrategico de Havas
Advertising, que controlara el cien por cien de la
compania de medios
. Xxxxx el 9,3 % de Havas Advertising a cambio del 55% de Media Planning
Group
. El primer caso en el que el capital espanol se convierte en el accionista
estrategico de uno de los lideres mundiales de la comunicacion
Barcelona, 19 de enero de 2001.- Los accionistas espanoles propietarios del 55%
de Media Planning Group (MPG), agencia de investigacion, planificacion
estrategica y compra de medios, han adquirido el 9,3 % de Havas Advertising,
convirtiendose asi en el socio estrategico del cuarto grupo mundial y lider
europeo de comunicacion y publicidad.
Los accionistas espanoles recibiran 28,8 millones de nuevas acciones de Havas
Advertising (cuyo valor en Bolsa alcanza los 500 millones de euros) mas 51
millones de euros en efectivo y cederan a cambio su participacion en Media
Planning Group. A partir de ese momento contaran con una amplia representacion
en el Consejo de Administracion y en los principales organos de gobierno y
gestion de Havas Advertising.
Este es el primer caso en el que el capital espanol (integrado en este caso por
la familia Xxxxx, el Grupo March, BBVA, BSCH y el vicepresidente de MPG, Xxxx
Xxxxxxxx Xxxxxx) se convierte en el accionista estrategico de uno de los mas
importantes grupos publicitarios y de comunicacion del mundo.
Media Planning Group xxxxx xxxxx de la fusion entre la division de medios de la
xxxxxxxx Xxxxx Advertising y la compania espanola Media Planning (fundada en
1978), cuyos propietarios conservaron el 55% del grupo resultante.
Xxxxxxxx Xxxxx, Presidente de Media Planning Group, ha manifestado al respecto:
" Con esta operacion, avanzamos un paso mas en nuestro proyecto y vision
empresarial de participar activamente en nuestra industria a nivel global con
una posicion de liderazgo. El presidente de MPG anadio "Nuestra asociacion con
Havas, estos dos anos, ha sido muy satisfactoria y ha confirmado
que tenemos una vision comun y unas capacidades complementarias imprescindibles
en un lider mundial".
Alain de Pouzilhac, Presidente de Havas Advertising, se ha manifestado en la
misma linea: "Tras dos anos de trabajo en comun, hemos demostrado que somos
capaces xx xxxxx un gran grupo a nivel mundial. El crecimiento de nuestras
operaciones y la incorporacion de los socios espanoles al capital de Havas
Advertising suponen un xxxxxxxx y una garantia de cara al futuro".
Las dos partes han destacado que la operacion permitira una mejora sustancial en
varios frentes:
. Expansion del negocio de medios en los mercados en los que opera Media
Planning Group y especialmente en los Estados Unidos, gracias a un
significativo desarrollo de la oferta de productos.
. Integracion en MPG del negocio de medios xx Xxxxxx y de otras posibles
adquisiciones futuras del Grupo Havas Advertising.
. Colaboracion entre los negocios de creatividad, marketing directo,
marketing interactivo y medios.
. Xxxxxxxx de la capacidad de inversion para afrontar el desarrollo
tecnologico y la expansion internacional de MPG.
Media Planning Group, con una facturacion de 8.450 millones de dolares en 2000,
es una de las principales agencias de medios del mundo. Cuenta con cerca de
2.000 profesionales y esta presente en mas de quince mercados distribuidos por
Europa, Estados Unidos y Latinoamerica, con una cobertura del 76 por ciento de
la inversion publicitaria mundial. La actividad del grupo se centra en la
investigacion, la planificacion estrategica y la compra de medios, con el
objetivo de aumentar el valor de las marcas de sus clientes. Media Planning
Group integra a tres unidades de negocio: las agencias de medios Media Planning
y Arena y la agencia especializada en medios interactivos Media Contacts
Havas Advertising es el cuarto grupo mundial de comunicacion. Basado en Paris,
sus principales divisiones operativas son Euro RSCG Worldwide, con sede en Nueva
York, Media Planning Group, con sede en Barcelona, Diversified Agencies Group,
con sede en Xxxxx x Xxxxxx Worldwide Partners, con sede en Boston. Havas
Advertising aporta un enfoque multicultural, que le distingue de sus principales
competidores. Havas Advertising ofrece una completa gama de servicios de
comunicacion que incluye publicidad general, marketing directo, planificacion y
compra de medios, comunicacion corporativa, marketing promocional, diseno
marketing deportivo, recursos humanos, comunicacion interactiva y relaciones
publicas. Havas Advertising es una organizacion mundial con actividad en 75
paises a traves de 250 agencias y 20.000 empleados aproximadamente.
Xxxxxxxx Xxxxx continuara como Presidente de Media Planning Group y Xxxxxxxx
Xxxxx, por su parte, continuara como Consejero Delegado de Media Planning Group
y miembro del Comite Ejecutivo de Havas Advertising. La sede social de MPG
seguira ubicada en Barcelona.
