The following explanations summarize all transactions since 2017 between Publicis Groupe and related parties.
In the second half of 2018, Publicis Groupe started a process to dispose of all the activities of Proximedia. Present in France, Belgium, the Netherlands and Spain, Proximedia assists micro-companies, SMEs, retailers and craftspeople with their digital communication.
This process, conducted with the help of an independent bank, resulted in more than 60 potential candidates being approached. On December 19, 2018, the Group companies holding Proximedia’s activities received a firm acquisition offer for all the companies forming Proximedia and the Spanish activity.
In return, the companies in question signed an exclusivity agreement with Ycor SCA to negotiate the final terms and conditions of this operation. Maurice Lévy, Chair of the Publicis Groupe Supervisory Board, holds interests in Ycor SCA. Some 10 investors, out of the 60 approached, showed an interest in the full or partial takeover of Proximedia. Ycor SCA’s offer, covering the entire scope, was the highest offer financially and was also the most compelling in terms of development prospects for the companies sold and support of the teams. The disposal was completed on April 30, 2019 (see Section 6 – Notes 6 & 31 to the consolidated financial statements in this document).
During 2019, the following transactions were carried out by Publicis Groupe with related parties:
| Revenue from related parties | Expenses for related parties | |
|---|---|---|
Joint venture constituted between MSL France and Les Échos Solutions(2) | Revenue from related parties 12 | Expenses for related parties
|
Burell Communication Group | Revenue from related parties
| Expenses for related parties 2 |
During the previous two financial years, the following transactions were carried out by Publicis Groupe with related parties:
| Revenue from related parties | ||
|---|---|---|
| 2018 Financial year | 2017 Financial year | |
Joint venture constituted between MSL France and Les Échos Solutions(2) | Revenue from related parties 9 | 8 |
The outstanding amounts with related parties in the balance sheet as at December 31, 2019 were as follows (in millions of euros):
| Receivables/loans vis-à-vis related parties | Liabilities vis-à-vis related parties | |
|---|---|---|
OnPoint Consulting, Inc.(1) | Receivables/loans vis-à-vis related parties 14 | Liabilities vis-à-vis related parties 1 |
Joint venture constituted between MSL France and Les Échos Solutions(2) | Receivables/loans vis-à-vis related parties - | Liabilities vis-à-vis related parties 2 |
Zag Limited(3) | Receivables/loans vis-à-vis related parties 5 | Liabilities vis-à-vis related parties - |
Sapient.i7 Limited(4) | Receivables/loans vis-à-vis related parties 2 | Liabilities vis-à-vis related parties - |
Burrell(5) | Receivables/loans vis-à-vis related parties - | Liabilities vis-à-vis related parties 1 |
Others | Receivables/loans vis-à-vis related parties 1 | Liabilities vis-à-vis related parties - |
(1) Entity wholly-owned by Publicis Groupe.
(2) Entity 50% owned by Publicis Groupe, to organize the “Viva Technology” event.
(3) Entity 36.75% owned by Publicis Groupe. (4)Entity 39% owned by Publicis Groupe. (5)Entity 49% owned by Publicis Groupe.
