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TMG - Telegraaf Media Groep NV News Story

€6 -0.1  -1.0%

Last Trade - 21/02/18

Sector
Consumer Cyclicals
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £266.7m
Position in Universe th / 846

De Mol's Talpa to sell stake in Dutch newspaper group TMG to Mediahuis

Fri 1st December, 2017 8:21pm
Dec 1 (Reuters) - Talpa, the investment vehicle of Dutch 
tycoon John de Mol, has agreed to sell its stake in Telegraaf 
Media Group (TMG)  TLGNc.AS  to Mediahuis, TMG said on Friday.   
   
    The Belgian publishing group, which also owns Dutch daily 
NRC Handelsblad, had been engaged in lengthy battle for control 
of TMG with Talpa, which said in August it had decided not to 
pursue its takeover bid but would remain as a minority 
shareholder. 
    Talpa's decision to sell its 29.16 percent stake gives 
Mediahuis control of just over 90 percent of the publisher of 
the Netherlands' top-selling newspaper, Thomson Reuters data 
shows. 
    "This will give us some peace and quiet to concentrate fully 
on implementing the future plans for TMG," TMG Chief Executive 
Marc Vangeel said in a statement. 
    As part of the deal, TMG will sell its 23 percent stake in 
Talpa Radio Holding to Talpa, resulting in a book profit of more 
than 8 million euros. 
    "It is of strategic importance to have all the shares of the 
radio company in our possession, which is what we were aiming 
for," Talpa Chief Executive Pim Schmitz said. 
    Mediahuis will pay 6 euros per share for the TMG stake. TMG 
shares closed at 5.66 euros on Friday. 
 
 (Reporting by Alan Charlish; Editing by Matthew Mpoke Bigg) 
 ((alan.charlish@thomsonreuters.com; +48 58 772 1582;)) 
 
Keywords: TMG M&A/MEDIAHAUS
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