Lagardère: signs agreement to divest television division
(CercleFinance.com) - After obtaining the opinions from employee representative bodies of the companies concerned, Lagardère and M6 announce that they have signed the divestment agreement for Lagardère group's television division (excluding Mezzo).
For the record, the entities sold includes its television channels Gulli (and its international variations), Canal J, TiJi, Elle Girl TV, MCM, MCM Top, RFM TV, as well as associated advertising networks, which represent pro-forma revenues of 98 million euros.
The completion of this transaction remains conditional on approval from the CSA and the Competition Authorities. This is at a price of 215 million euros (enterprise value), payable on the definitive completion date.
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