from LAGARDERE (EPA:MMB)
The Board of Directors of Lagardère SA authorises the signature of a preliminary memorandum of understanding and the continuation of exclusive negotiations with LVMH for the sale of Paris Match
Paris, 22 May 2024
The Board of Directors of Lagardère SA authorises the signature of a preliminary memorandum of understanding and the continuation of exclusive negotiations with LVMH
for the sale of Paris Match
At its meeting today, the Board of Directors of Lagardère SA noted the satisfactory progress of the exclusive discussions initiated with the LVMH group on 27 February 2024, following the offer received for Paris Match magazine, and authorised the signature of a preliminary memorandum of understanding and the continuation of exclusive negotiations.
This non-binding memorandum of understanding provides for the sale of Paris Match magazine, subject to the finalization of negotiations, on the basis of an enterprise value of €120,000,000.
The relevant employee representative bodies will be consulted on the proposed transaction in due course. The final binding agreements could be signed at the end of July 2024. Any proposed sale would also be subject to approval by the competition authorities and could be completed at the end of September 2024.
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Created in 1992, Lagardère is an international group with operations in more than 40 countries worldwide. It employs some 31,300 people and generated revenue of €8,081 million in 2023. The Group focuses on three divisions: Lagardère Publishing (Books, E-Books, Partworks, Stationery, Board Games and Mobile Games), Lagardère Travel Retail (Travel Essentials, Duty Free & Fashion and Foodservice) and Lagardère News (Paris Match, Le Journal du Dimanche, JDD Magazine, and the Elle brand licence). The Group’s operating assets also include Lagardère Live Entertainment and Lagardère Paris Racing. Its consolidated financial statements also include Lagardère Radio SCA, which is wholly owned, and its subsidiaries (Europe 1, Europe 2 and RFM) controlled by Arnaud Lagardère. Lagardère shares are listed on Euronext Paris. www.lagardere.com |
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Investor Relations Contact
Emmanuel Rapin Tel. +33 1 40 69 17 45 erapin@lagardere.fr