Dec 28, 2000

Approval Given for Vivendi, Seagram and Canal+ Business Deal

Vivendi and The Seagram Co., Ltd. obtained approval relating to the proposed strategic business combination among Vivendi, Seagram and Canal+ from the Minister of Canadian Heritage and the Minister of Industry Canada, as required under the Investment Canada Act.

The parties also received antitrust clearances for the transaction from the European Commission, appropriate U.S. antitrust authorities and the Canadian Competition Bureau.

In addition, the French audiovisual authority (CSA) has indicated that it would not oppose the transaction.

(Source: Vivendi)