Lagardere says it closes in on sale of Paris Match magazine to LVMH
22/05/2024 17:12
PARIS, May 22 (Reuters) - French media and business
conglomerate Lagardere LAGA.PA said on Wednesday it is moving
closer to a sale of its Paris Match magazine to luxury goods
giant LVMH LVMH.PA , on an enterprise value price tag of 120
million euros ($130 million).
"At its meeting today, the Board of Directors of Lagardère
SA noted the satisfactory progress of the exclusive discussions
initiated with the LVMH group on 27 February 2024, following the
offer received for Paris Match magazine, and authorised the
signature of a preliminary memorandum of understanding and the
continuation of exclusive negotiations," said Lagardere.
($1 = 0.9229 euros)
(Reporting by Sudip Kar-Gupta; Editing by Kirsten Donovan)
((sudip.kargupta@thomsonreuters.com;))