Lagardère SCA completes the sale of its magazine business in China
Archives Lagardère Active, Corporate & other activities, Finance
Paris, December 6, 2011
As announced, Lagardère SCA has completed the sale of most of its magazine business in China to Hearst Corporation. The sale covers 7 titles and excludes the joint-venture with Marie Claire, for which the closing should be completed soon.
In the second half of 2011, the sale of international magazine business in the United Kingdom and China amounted to around EUR 176 million.
This closing in China nearly completes the whole international magazine business sale which represents, subject to the final adjustments, a total amount of EUR 659 million (including the forthcoming disposal of the joint-venture with Marie Claire).
Lagardère is a pure media group (books, press, broadcast, digital, travel retail and press distribution, sport industry and entertainment), and is among the world leaders in the sector.
Lagardère shares are listed on Euronext Paris (Compartment A).
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