received EU antitrust approval for purchasing approximately 40% of EDITIS consolidated revenue, in line with its December 2, 2003 proposal.
As a result, HACHETTE LIVRE becomes No. 6 worldwide (No. 11 before the EDITIS transaction) which illustrates the offensive strategy of LAGARDERE MEDIA in Book Publishing.
Larousse, Anaya, Dalloz, Dunod, Armand Colin, Chambers and Harrap will strengthen HACHETTE LIVRE and more broadly LAGARDERE MEDIA in their different specialties, thanks to their complementarities, international presence and strong development potential. This acquisition makes LAGARDERE the No. 1 book publisher both in France and Spain, and at the same time will allow LAGARDERE to recover its investment capacity. LAGARDERE and HACHETTE LIVRE in particular, which is headed by Arnaud Nourry, enthusiastically welcome these valuable brands and their teams.
In parallel, the integration process will start under HACHETTE LIVRE leadership in close connection with LAGARDERE Corporate and the involved EDITIS book imprints and following employee representatives information and consultation.
LAGARDERE will now begin a period where it will review the bids for the EDITIS properties that will not be retained. In its shareholders’ interest, LAGARDERE will favor a one block sale solution.
LAGARDERE is keen to stress the excellent working relationship that prevailed all along the investigation with Commissioner Monti and his teams.