PARIS--(BUSINESS WIRE)--Regulatory News:
Lagardère SCA (Paris:MMB):
As part of its strategic refocusing around Lagardère Publishing and Lagardère Travel Retail, today the Lagardère group finalised the sale of most of its magazine publishing titles in France, including Elle and its various extensions, Version Femina, Art & Décoration, Télé 7 Jours and its various extensions, France Dimanche, Ici Paris and Public, to Czech Media Invest (CMI).
In connection with the sale, CMI has been granted an exclusive license for the Elle brand covering France. The Lagardère group remains the owner of the Elle brand in France and abroad.
The amount of the transaction was €52 million. In 2018, these activities
generated revenue in the region of €239 million, recurring EBIT of
around €22 million and pro forma EBIT (including restructuring costs) of
about €10 million.
Six hundred and forty-nine employees are being
transferred to CMI as part of the deal.
Arnaud Lagardère, General and Managing Partner of Lagardère SCA, commented: “I am delighted to have concluded this significant transaction for the Group’s reconfiguration, with a very ambitious company which has great plans for this segment. Daniel Kretinsky is a shrewd businessman and has a strong affinity with France. I have no doubt he will continue to grow these magazines and give them the means to succeed.”
Coming on the back of the disposals of the interest in Marie Claire,
most of the Group's international radio activities, and the MonDocteur,
Doctissimo and Boursier.com websites, as well as the start of exclusive
negotiations for the sale of Billetreduc.com and the Television business
(excluding Mezzo), this transaction marks a decisive step in the
Lagardère group’s strategic redeployment around its two priority
divisions, Lagardère Publishing and Lagardère Travel Retail.
The
proceeds from these disposals will be reinvested first and foremost in
these two divisions, in order to provide them with the means to become a
fixture among the global leaders in their respective segments.
***
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.
www.lagardere.com
