Lagardre takes a further decisive step in its strategic refocusing with the sale of Lagardre Studios to Mediawan

Lagard re takes a further decisive step in its strategic refocusing with the sale of Lagard re Studios to Mediawan As part of its strategic refocusing around Lagard re Publishing and Lagard re Travel Retail, the Lagard re group has received a firm and final offer from Mediawan to acquire the entire share capital of Lagard re Studios.

The linkup with Mediawan will strengthen the position of the combined entity as a leading European audiovisual production player and will enable Lagard re Studios to embark upon a new phase of its development with the backing of its new shareholder. Lagard re is pleased to be contributing an asset comprising hugely talented teams who have successfully developed creative, varied and recognised programmes. Lagard re Studios ranks among the leading independent content producers and distributors in Europe and Africa, with a footprint in France, Spain (Boomerang group), Finland (Aito Media) and the Netherlands (Skyhigh TV), and long-term relationships with the main broadcasters in each of those countries.

Arnaud Lagard re, General and Managing Partner of Lagard re SCA, commented: "I m delighted to tie up this deal which will enable Lagard re Studios to pursue its development with one of the leading independent European studios. I d like to pay tribute to the Lagard re Studios teams who have dedicated their talent to building a major player in audiovisual content creation and production."

"Lagard re Studios is a key player in the European audiovisual production market." added Pierre-Antoine Capton, Chairman of the Management Board of Mediawan. "We are very excited at the prospect of working with the terrific Lagard re Studios teams to create new content for the European public."

Lagard re Studios posted total revenue of 218 million in 2019.

The transaction values Lagard re Studios at approximately 100 million(1).

The planned disposal will be submitted to the relevant employee representative bodes and will be subject to clearance from the competition authorities.

Lagard re will now be dedicating all efforts and resources to developing Lagard re Publishing and Lagard re Travel Retail.

(1) Enterprise value, breaking down as 85 million paid on closing (including a portion of up to 20 million payable in Mediawan shares) and 15 million in contingent consideration payable in 2023.

Press Contacts

Thierry Funck-Brentano - Tel. +33 1 40 69 16 34 - tfb@lagardere.fr

Ramzi Khiroun - Tel. +33 1 40 69 16 33 - rk@lagardere.fr

Investor Relations Contact

Emmanuel Rapin - Tel. +33 1 40 69 17 45 - erapin@lagardere.fr

Created in 1992, Lagard re is an international group with operations in more than 40 countries worldwide. It employs over 30,000 people and generated revenue of 7,211 million in 2019.

In 2018, the Group launched its strategic refocusing around two priority divisions: Lagard re Publishing (Book and e-Publishing, Mobile and Board games) and Lagard re Travel Retail (Travel Essentials, Duty Free & Fashion, Foodservice).

The Group s operating assets also include Lagard re News and Lagard re Live Entertainment.

Lagard re shares are listed on Euronext Paris.

www.lagardere.com

To receive the latest Lagard re group press releases, sign up for the E-mail Alert.

LINK:	http://www.lagardere.com/index.php?coe_i_id=363&idpress=7849...
	See more stories from lagard

Most recent headlines