(CercleFinance.com) – Lagardère announces that its Board of Directors has authorized the signing of a preliminary memorandum of understanding and the continuation of exclusive negotiations with LVMH with a view to a sale of the Paris Match title.
The board noted ‘satisfactory progress’ in exclusive discussions with LVMH, which began on February 27, 2024.
This protocol envisages the sale of Paris Match for 120 million euros, subject to the finalization of negotiations.
Staff representatives will be consulted. The signing of the final agreements is scheduled for the end of July 2024, and the sale, subject to approval by the competition authorities, could be concluded at the end of September 2024.