PARIS--(BUSINESS WIRE)--Regulatory News:
Lagardère Travel Retail (Paris:MMB) announces the completion today of the disposal to bpost SA/NV of Lagardère Services Distribution Benelux "LSDB" including AMP’s press distribution business and the integrated retail network operating Press Shop and Relay brands in Belgium (218 stores). All necessary authorizations have been received from the Belgian competition authorities on November 8th, 2016.
This transaction with bpost SA/NV has already been announced on February 5th, 2016.
As part of the transaction, Lagardère Travel Retail and bpost have signed a franchise agreement allowing the company to continue to operate and develop Lagardère Travel Retail international brands, such as Relay, hubiz, Hello!, So! Coffee and Hub convenience.
With this deal, Lagardère Travel Retail has almost completed the disposal of all its Distribution activities (only Hungary remains).
LSDB had consolidated sales of € 431 million in 2015 and a recurring EBIT before associates of 9 M€.
The deconsolidation will take place as of December 1st 2016.
The Lagardère group is a global leader in content publishing, production, broadcasting and distribution, whose powerful brands leverage its virtual and physical networks to attract and enjoy qualified audiences.
It is structured around four business lines: Books and e-Books; Travel Retail; Press, Audiovisual, Digital and Advertising Sales Brokerage; Sports and Entertainment.
Lagardère shares are listed on Euronext Paris.