Overview

• Canal+ says it is negotiating exclusively to take a minority position in UGC, with no transaction yet signed.
• The proposed structure foresees an initial 34% stake followed by a potential takeover starting in 2028 subject to agreements with UGC shareholders.
• Any signing must first be submitted to information and consultation procedures with employee representative bodies, according to Canal+.
• Canal+ frames the combination as a way to accelerate StudioCanal’s growth by aligning its production and distribution with UGC’s theaters and catalogue.
• UGC is one of France’s largest cinema operators with about fifty sites, including 48 in France and seven in Belgium.