Main CHANGES IN the scope of consolidation
The main changes in scope of consolidation in 2015 were as follows:Lagardère Publishing
- Full consolidation over 12 months in 2015 of Rising Stars, a publishing house founded in 2002 and specialised in the publication of teaching resources for primary schools. This company was acquired in December 2014 by Hodder Education.
- Acquisition of Nicholas Brealey Publishing, a UK-based publishing house, fully consolidated since July 2015.
Lagardère Travel Retail (formerly Lagardère Services)
- Acquisition on 22 October 2015 of a direct and indirect controlling interest in the entire share capital of Paradies Holding LLC, a leader in airport Travel Retail in North America, which was fully consolidated with effect from 1 November2015.
- Acquisition on 21 April 2015 of 17 fashion and confectionery outlets at Terminal 4 of JFK airport in New York, which was consolidated with effect from 1 May 2015.
- Sale of the Curtis Group, the press distribution specialist in the United States and Canada, which was deconsolidated in June 2015.
Lagardère Travel Retail continued its withdrawal from the Press Distribution business with the sale of its subsidiary Curtis Circulation Company, a leading US national distributor of magazines, to its management team.
The impact of this transaction on Lagardère Travel Retail's 2015 results was a capital loss of €12 million.
- Sale of the 65% stake in Lagardère Services Distribution Suisse (LSDS), the business division's Swiss press distribution and integrated retail subsidiary, which was deconsolidated from March 2015.
The impact of this transaction on Lagardère Travel Retail's 2015 results is a capital gain of €37 million, before taxes.
- Full consolidation over seven months in 2015 of Grupo Boomerang TV following Lagardère Entertainment's acquisition of 82% of its share capital in May 2015.
Grupo Boomerang TV is one of Spain's leading independent audiovisual production groups (fiction and unscripted) and has begun to expand into several Latin American countries.
Lagardère Sports and Entertainment (formerly Lagardère Unlimited)
- Acquisition of 70% of the share capital of Société d’Exploitation des Spectacles Bataclan, which has been fully consolidated since October 2015.
- Full consolidation over six months in 2015 of UFA Sports further to the acquisition of the entire share capital by Lagardère Sports in June 2015.