Lagardère: divests assets in South Africa

(CercleFinance.com) - As part of its strategic refocusing, Lagardère announces the completion of the sale, by Lagardère Active Radio International (LARI), of its activities in South Africa to its historical joint-shareholder Kagiso Media.


This includes the sale of LARI's 20% stake in Jacaranda FM Proprietary Limited, broadcaster of Jacaranda FM, South Africa's leading private radio, for 233 million South African rand, i.e. slightly over 15 million euros.

Lagardère has also signed an agreement to sell LARI's 49.99% stake in the capital of Mediamark Proprietary Limited, for an estimated 30 million rand, i.e. two million euros.


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