Brief: Mondadori: Sale Of Mondadori France to Reworld Media Receives Antitrust Clearance

Unify

25/07/2019 06:59

July 25 - Arnoldo Mondadori Editore SpA  MOED.MI :
    * SAID ON WEDNESDAY THAT SALE OF ITS SUBSIDIARY MONDADORI
FRANCE
SAS TO REWORLD MEDIA SA RECEIVED ANTITRUST CLEARANCE FROM
AUTORITE DE LA CONCURRENCE
    * IN ACCORDANCE WITH THE REMEDY SET OUT IN THE CLEARANCE,
REWORLD
MEDIA TO SELL A TITLE OF ITS CHOICE THAT COULD BE EITHER
"L'AUTO-JOURNAL", PUBLISHED BY JOINT VENTURE EMAS (EDITIONS
MONDADORI AXEL SPRINGER), OR "AUTO MOTO", PUBLISHED BY REWORLD
MEDIA
    * CONSIDERATION FROM TRANSACTION WILL BE OF EUR 70 MLN WITH
A EUR
5 MLN EARN-OUT
    * FOLLOWING SUBSCRIPTIONS, ARNOLDO MONDADORI EDITORE IS
EXPECTED
TO HOLD AN INVESTMENT BETWEEN 14% AND 16% IN REWORLD MEDIA
    * ESTIMATED IMPROVEMENT IN MONDADORI GROUP'S NET FINANCIAL
POSITION WILL BE ABOUT EUR 63 MILLION, UP VERSUS ANNOUNCEMENT
FROM APRIL 19  urn:newsml:reuters.com:*:nFWN2200YN

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nBIA3pLmPD
    
 Further company coverage:  MOED.MI  
   


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