NEUILLY-SUR-SEINE, France--(BUSINESS WIRE)--Regulatory News:
On Friday 20 March, M6 Group (Paris:MMT) completed the combination of its subsidiary iGraal, the French leader in cashback, with the German Global Savings Group, a major global payer in digital marketing.
The deal, which takes the form of a partial cash sale for €35 million and a share swap, values iGraal at €123.5 million. It will lead to the recognition of a significant capital gain of almost €100 million in the Group’s financial statements.
As a result, M6 Group becomes the leading shareholder in GSG, with 38% of the capital (including the potential dilution stemming from the future exercise of stock-options), and will consolidate its results via the equity method.
With this transaction, M6 Group is reinforcing its cash and cash equivalents while consolidating its position on the growing market of performance marketing thanks to the creation of a leading international digital group within the cashback and couponing market.