Vivendi has agreed to buy out Canal Plus France from Lagardere for €1.02 billion putting an end to years of friction over the pay-TV unit’s ownership structure.

The cash transaction for the 20 per cent holding in Canal Plus France, mediated by a commercial court in Paris, will terminate all disputes between the two companies, Vivendi and Lagardere said. Lagardere and Canal Plus will continue to pursue cooperation in programme production and the publishing and distribution of TV channels, they said.

Lagardere walked away from negotiations with Vivendi in 2011, saying it may sell the stake through an initial public offering instead after failing to agree on its valuation.

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