--- title: New Vivendi Spin-Off Triggers Withholding Tax Reclaim Opportunity description: Vivendi recently completed a spin-off, distributing shares in three newly separated entities—Canal+, Havas N.V., and Louis Hachette Group.. image: https://blog.wtax.co/hubfs/Vivendi.jpg --- [![Wtax](https://blog.wtax.co/hubfs/raw_assets/public/Wtax_June2024/images/wtax-logo.svg "Wtax")](https://wtax.co/) - [Home](https://wtax.co/) - [Institutions](https://wtax.co/institutions/) - [Private Wealth](https://wtax.co/private-wealth/) - [Custodians](https://wtax.co/custodians/) - [About Us](https://wtax.co/about-us/) - [Meet the Team](https://wtax.co/about-us/meet-the-team/) - [Our Technology](https://wtax.co/about-us/our-technology/) - [Careers](https://info.wtax.co/careers) - [Corporate Social Responsibility](https://wtax.co/about-us/corporate-social-responsibility/) - [Partners](https://wtax.co/partners/) - [Resources](https://wtax.co/resources/blog/) - [Blog](https://wtax.co/resources/blog/) - [Videos](https://wtax.co/resources/videos/) - [Contact Us](https://wtax.co/contact-us/) # New Vivendi Spin-Off Triggers Withholding Tax Reclaim Opportunity April 16, 2025 [Speak To A Tax Reclaim Specialist](https://blog.wtax.co/wtax-blog/vivendi#get-in-touch) [![Back](https://blog.wtax.co/hubfs/raw_assets/public/Wtax_June2024/images/blog-back.svg)](https://blog.wtax.co/wtax-blog) [![Back](https://blog.wtax.co/hubfs/raw_assets/public/Wtax_June2024/images/blog-back.svg)](https://blog.wtax.co/wtax-blog) ## Nature of the Transaction Vivendi recently completed a spin-off, distributing shares in three newly separated entities—**Canal+**, **Havas N.V.**, and **Louis Hachette Group**—to its existing shareholders, on a one-for-one basis for each Vivendi share held. The distribution of these shares to Vivendi investors was structured as a special dividend paid in kind. Under French tax law, €4.27 of the value of this distribution is considered taxable, and non-resident investors are subject to **25% withholding tax** on that amount—resulting in a **€1.0675 per share deduction**. Depending on the investor’s country of residence and tax status, **a portion or the full amount of the withholding tax may be recoverable**. Despite the material value at stake, the non-standard classification of spin-offs means these events are frequently overlooked in traditional withholding tax recovery processes.   | ### Why This Opportunity May Be Missed Spin-offs—particularly those structured as dividends-in-kind—**may not be clearly flagged**. Without specialist oversight, this type of event can be missed entirely. | ### Time-Sensitive: France's 2-Year Statute Applies French withholding tax reclaims are **subject to a strict two-year limitation period** from the end of the calendar year in which the income was received. This makes prompt action essential—both to **secure eligibility and to enable faster refunds and reinvestment**. | | --- | --- |   ## How WTax Protects Your Position At WTax, we deliver withholding tax recovery services that go beyond standard processes. **We monitor niche and complex income events**—like spin-offs and special dividends—to ensure no reclaim opportunity is missed. ### Key advantages of partnering with WTax: ✔ **Proactive opportunity identification –** Our global team monitors a wide range of income and event types across markets to uncover reclaim opportunities often missed by standard processes. ✔ **End-to-end reclaim management**— Trusted by **1,000+** institutional clients and powered by **250+ Experts**, we manage everything from documentation through resolution. **✔ Proven track record**—In a prior Vivendi spin-off (2021), WTax submitted over €37.5 million in claims, recovering up to 26.5% of the spin-off value depending on investor domicile and structure Now is the time to confirm your reclaim entitlement. [Contact WTax today.](https://info.wtax.co/vivendi) ## Related Articles ![Austrian Withholding Tax Reclaims: An Emerging Challenge for US RICs](https://blog.wtax.co/hubfs/beautiful-cityscape-with-flags-in-salzburg-austri-2026-01-09-07-39-44-utc.jpg) Sep 23, 2026 [Austrian Withholding Tax Reclaims: An Emerging Challenge for US RICs](https://blog.wtax.co/wtax-blog/austria-challenge-us-rics) ![CJEU Rules on Spanish Withholding Tax Treatment of US Funds](https://blog.wtax.co/hubfs/Untitled%20design%20(14).png) Sep 21, 2026 [CJEU Rules on Spanish Withholding Tax Treatment of US Funds](https://blog.wtax.co/wtax-blog/cjeu-spanish-withholding-tax-ric) ![How ICI Is Thinking About Fund Tax Modernization](https://blog.wtax.co/hubfs/Fund%20Tax%20Ops.jpg) Aug 19, 2026 [How ICI Is Thinking About Fund Tax Modernization](https://blog.wtax.co/wtax-blog/ici-fund-tax-modernization) ![A Question for Luxembourg Asset Managers in 2026: How Much of Your Recoverable Withholding Tax Sits Outside Your Current Recovery Plan?](https://blog.wtax.co/hubfs/luxembourg-flag-against-cloudy-sky-2026-03-19-03-14-05-utc.jpg) Aug 5, 2026 [A Question for Luxembourg Asset Managers in 2026: How Much of Your Recoverable Withholding Tax Sits Outside Your Current Recovery Plan?](https://blog.wtax.co/wtax-blog/luxembourg-asset-managers-2026) ## Get In Touch [Terms and conditions](https://wtax.co/terms-and-conditions/) ### About Us - [Meet the Team](https://wtax.co/about-us/meet-the-team/) - [Careers](https://info.wtax.co/careers) - [Corporate Social Responsibility](https://wtax.co/about-us/corporate-social-responsibility/) - [Our Technology](https://wtax.co/about-us/our-technology/) ### [Partners](https://wtax.co/partners) ![shape](https://blog.wtax.co/hubfs/footer-shape.svg "shape") ### Resources - [Blog](https://wtax.co/resources/blog/) - [Videos](https://wtax.co/resources/videos/) ### [Contact Us](https://wtax.co/contact-us/) ![shape](https://blog.wtax.co/hubfs/footer-shape-1.svg "shape") © 2019 - 2026 WTax (a division of the VAT IT Group). 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