Lagardère: Sale of the regional daily press arm
Corporate & other activities, Finance
Paris, August 13, 2007
The Lagardère Group, which entered into exclusive negotiations with the Hersant Média Group on July 19, 2007, today announced the signature of a contract for the sale of its regional daily press interests in southern France (principal titles: La Provence, Nice Matin, Var Matin, Corse Matin and Marseille Plus) to the Hersant Média Group. Lagardère is to sell its interest in the capital of the companies that publish these titles for a price of €160 million. It is expected that the divested business will have a marginally positive net cash position on the completion date of the transaction. The Nice Matin and La Provence Works Councils have been informed and consulted about the sale, completion of which is now subject only to approval from the French anti-trust authorities.
The Lagardère Group’s regional daily press arm in southern France generated revenues of €222 million and recurring operating income of €3 million in the year ended December 31, 2006.
The Lagardère Group is a market leader in the media sector (books, press, audiovisual, distribution of cultural and entertainment products, and sports rights). The Group also has interests in the high technology sector via a 12.48%
stake in EADS. Lagardère shares are listed in Paris on Eurolist by Euronext – Compartment A.
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