Lagardère: set to sell Lagardère Studios to Mediawan
(CercleFinance.com) - As part of its strategic refocusing (around Lagardère Publishing and Lagardère Travel Retail), Lagardère has announced that it has received a firm and final offer from Mediawan for 100% of Lagardère Studios' capital, subject to clearance from the competition authorities.
As a producer and distributor of content in Europe and Africa, which is present in France, Spain (Boomerang group), Finland (Aito Media) and the Netherlands (Skyhigh TV), Lagardère Studios posted 2019 revenues of 218 millions euros.
This planned disposal gives the entity an estimated EV of 100 million euros, including 85 million euros to be paid on closing (with up to 20 million euros paid in Mediawan shares) and 15 million euros in contingent consideration payable in 2023.
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