Lagardère expected to move ahead with Canal Plus IPO

Lagardère looks set to move forward with plans to float its 20% stake in Canal Plus France, either at the end of this year or the beginning of 2013, according to local reports.

The media and industrial conglomerate, which notified Canal Plus of its plans in July, is expected to publish a prospectus based on the company’s results to the end of September rather than wait for the year-end.

According to Reuters, BNP Paribas and JP Morgan are advising Lagardère, while Nomura and Société Générale are advising Canal Plus majority owner Vivendi.

Lagardère initially tried to launch an IPO of the stake early last year, but was forced to abort the process as a result of unfavourable market conditions in the wake of the Fukushima earthquake.