Vivendi Universal has turned to Goldman Sachs to lead a €350m ($348m) block trade in Vinci, a French construction company, as it sells shares for the second time this week in order to meet debt reduction targets.

The US bank was not involved in the equity sale at the beginning of this week. BNP Paribas, Deutsche Bank and SG were joint bookrunners of a €1.4bn accelerated bookbuild as the French media conglomerate disposed of a 15.6% in Vivendi Environnement, its utility subsidiary. On Monday, Vivendi Universal shares dropped 23% as the share sale took place. By Friday, Vivendi Universal shares had risen 2.9% to €20.39 on news of the sale of 5.27 million Vinci shares. The construction company's share price dropped 0.75% to €66.45 on Friday.