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Claranova: exclusive discussions for PlanetArt

(CercleFinance.com) - Claranova announces exclusive discussions with General Atlantic Credit's Atlantic Park fund for the potential sale of its PlanetArt division.


This potential transaction would value the division at approximately US$160 million on a cash and debt free basis (or approximately US$180 million in equity value, including excess cash and intercompany loans and debt), subject to final adjustments.

PlanetArt manages a portfolio of websites and mobile applications used by tens of millions of customers worldwide.

At June 30, 2024, PlanetArt's sales represented 365 million euros, or 74% of the Group's sales, and its Normalized ROC represented 20 million euros, or 43% of the Group's Normalized ROC.

Upon completion of this transaction, Roger Bloxberg and Todd Helfstein will become major shareholders of PlanetArt, and will continue to exercise their respective functions as CEO and Chairman," states the group.

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