Vivendi's Havas targets up to 15% margin by 2028 after split
Adds detail and context from paragraph 3
Nov 19 (Reuters) -Vivendi's VIV.PA advertising arm Havas, set to be spun-off from the French media conglomerate in December, said on Tuesday it aimed to raise its adjusted operating profit margin to between 14% and 15% by 2028, from 12.1% last year.
Havas expects the average annual contribution from acquisitions to its net revenue to be 40-50 million euros ($42.3 million to $52.9 million) in the medium term, it said ahead of the Capital Markets Day event it will hold later on Tuesday.
As a standalone business, Havas would become a Dutch company based and listed in Amsterdam, should Vivendi's shareholders approve the proposed break-up on Dec. 9.
If approved, trading in Havas and the other two spin-offs, Canal+ and Louis Hachette, is set to start on Dec. 16.
Yannick Bollore, chairman of Vivendi's supervisory board, will be the CEO and chairman of Havas.
A newly setup foundation will also hold a preferred share in Havas' capital, with multiple voting rights and veto powers over chairman appointments and dismissals aimed at fending off hostile takeovers and board changes over the next eight years.
The Bollore family will have a 31% stake in Havas after the spin-off.
Vivendi on Monday projected moderate earnings growth for Havas and Canal+ ahead of their investor days.
($1 = 0.9454 euros)
Reporting by Gianluca Lo Nostro and Leo Marchandon in Gdansk; editing by Milla Nissi
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