There are no significant investments or divestments underway.
Publicis Groupe will continue its investments to provide proposals and solutions to its clients faced with numerous challenges (consumer behavior, multiplication of communication channels, increasing weight of omni-channel commerce, emergence of new players from digital technologies). Thus, all future investments will aim to improve our offering, combining our creative, media, data and technological expertise.
Moreover, as at December 31, 2019 the Group also had commitments of euro 347 million under earn-out clauses and euro 36 million for non-controlling interest buyouts, a total of euro 383 million, of which euro 133 million is due in less than one year.
The Company concluded the acquisition of Epsilon by Publicis Groupe on April 12, 2019. The acquisition was subject to a number of conditions precedent, one of which was obtaining the required regulatory approvals, including from the competition authorities in the United States, all of which were satisfied. Closing took place on July 1, 2019. Apart from this transaction, Publicis Groupe did not conclude any significant agreements or any agreements conferring a significant obligation or commitment on the Group, with the exception of those concluded in the normal course of affairs, during the two years preceding the date of this Universal Registration Document.
The Group does not believe that it is dependent on any specific patent or licence to operate its businesses
