Lagard re announces the disposal of the Jacaranda radio station and the signing of an agreement for the sale of the Mediamark advertising sales brokerage to South African group Kagiso Media As part of its strategic refocusing on Lagard re Publishing and Lagard re Travel Retail, the Lagard re group is today announcing the completion of the following transactions for the disposal by Lagard re Active Radio International (LARI) of its businesses in South Africa to long-standing fellow shareholder, the Kagiso Media group:
the disposal on 7 February 2019, of the 20% interest held by LARI in Jacaranda FM Proprietary Limited, owner of Jacaranda FM, South Africa s number 1 private radio station, to the Kagiso Media group. Jacaranda contributed around 1.8 million to Group recurring EBIT in 2018;
the signing of an agreement for the sale of the 49.99% interest held by LARI in the Mediamark Proprietary Limited advertising sales brokerage to the Kagiso Media group. The closing of this transaction is subject to clearance from the South African regulatory authorities.
The sale price for Jacaranda was ZAR 233 million (just over 15 million)(1).
The sale price for Mediamark is estimated at ZAR 30 million (around 2 million)(1).
The Lagard re group is proud to have contributed to the creation of a leading brand and recognised advertising brokerage alongside Kagiso Media, the leading player in South Africa's radio segment.
(1) At current exchange rates.
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
Florence Lonis - tel. +33 1 40 69 18 02 - flonis@lagardere.fr
The Lagard re group is a global leader in content publishing, production, broadcasting and distribution, whose powerful brands leverage its virtual and physical networks to attract and enjoy qualified audiences.
It is structured around four business lines: Books and e-Books; Travel Retail; Press, Audiovisual, Digital and Advertising Sales Brokerage; Sports and 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.
Lagardre announces the disposal of the Jacaranda radio station and the signing of an agreement for the sale of the Mediamark advertising sales brokerage to South African group Kagiso Media
11/02/2019
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