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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: December 19, 2000
THE SEAGRAM COMPANY LTD.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
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<S> <C> <C>
Canada 1-2275 None
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(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
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1430 Peel Street, Montreal, Quebec, Canada H3A 1S9
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
Registrant's telephone number, including area code:
(514) 987-5200
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Item 5. Other Events.
On December 19, 2000 Vivendi Universal (the "Company"), the parent company of
The Seagram Company Ltd. ("Seagram"), announced that it has entered into an
agreement for the sale of Seagram's spirits and wine business to Diageo and
Pernod Ricard for $8.150 billion, subject to regulatory approvals.
Net proceeds after taxes are expected to be approximately $7.7 billion. This is
$1.3 billion over and above the objective the Company had set to wipe out
Seagram's net debt of $6.4 billion (as of September 30, 2000), excluding ACES
(Adjustable Conversion-rate Equity Security units) of which the dilutive impact
had already been taken into account.
This agreement follows the completion of the combination of Seagram with Vivendi
and CANAL+ which was consummated on December 8, 2000 and created Vivendi
Universal.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
(99) Press Release dated December 19, 2000
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE SEAGRAM COMPANY LTD.
(Registrant)
Date: December 21, 2000
By:/s/Daniel R. Paladino
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Daniel R. Paladino
Executive Vice President- Legal
& Environmental Affairs
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EXHIBIT INDEX
Exhibit
Number Description of Exhibit
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(99) Press Release dated December 19, 2000
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