Lagardère announces the sale of its light electric vehicle business
Corporate & other activities, Finance
Paris, 19 December 2014
Matra Manufacturing & Services (MMS), a wholly-owned subsidiary of Lagardère SCA, announces the completion of an agreement to sell the manufacturing and commercial assets of its light electric vehicles business (electric bikes and electric scooters), including spare parts and accessories, to the Easybike group.
The industrial project of the Easybike group, a major player in electric bicycles in France, will enable to continue to operate Matra’s activities on this market.
The Easybike group acquires MMS business as well as all existing stock.
In 2013, these activities generated revenue of €8 million, and posted an operating loss.
Alongside the sale agreement, a concession contract will give MGF Easybike the right to use the Matra brand exclusively for the manufacture and sale of light electric vehicles for ten years. The contract includes an option for the Easybike group to acquire the brand in 10 years’ time.
MMS will retain the residual business of spare parts for Renault vehicles (Espace 1, Espace 2, Espace 3 and Avantime).
Lagardère is a world-class diversified media group (Books and e-Publishing; Travel Retail and Distribution; Press, Audiovisual, Digital and Advertising Sales Brokerage; Sports and Entertainment). Lagardère shares are listed on Euronext Paris.
Some of the statements contained in this document are not historical facts but rather are statements of future expectations and other forward-looking statements that are based on management's beliefs. These statements reflect such views and assumptions prevailing as of the date of the statements and involve known and unknown risks and uncertainties that could cause future results, performance or future events to differ materially from those expressed or implied in such statements.
Please refer to the most recent Reference Document (Document de référence) filed by Lagardère SCA with the French Autorité des marchés financiers for additional information in relation to such factors, risks and uncertainties.
Lagardère SCA has no intention and is under no obligation to update or review the forward-looking statements referred to above. Consequently Lagardère SCA accepts no liability for any consequences arising from the use of any of the above statements.
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