M6: in talks for its subsidiary iGraal
(CercleFinance.com) - M6 announces that it has entered into exclusive negotiations with the German group Global Savings Group, a major global player in digital marketing, with a view to a merger with its cashback subsidiary iGraal, which M6 acquired in 2016.
The transaction, which would take the form of a partial cash sale for a 35 million euros and an exchange of shares, would value iGraal at 123.5 million euros. M6 would then become the largest shareholder of GSG with 38% of its capital.
The media group specifies that the deal, which remains subject to the finalisation of negotiations and consultation of the social authorities concerned, is expected in the first quarter of 2020.
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