Mediawan SA (ENXTPA:MDW) made a binding offer to acquire SAS Lagardère STUDIOS from Lagardère SCA (ENXTPA:MMB) for approximately €120 million on June 19, 2020. The transaction is formalized by an agreement signed on August 6, 2020 with Groupe Lagardère. The approximately €100 million of enterprise value is broken down as, €85 million paid on closing including a portion of up to €20 million payable in Mediawan shares, and up to €15 million in contingent consideration payable in 2023. In related transactions, Mediawan founders made a tender offer to acquire all shares of Mediawan SA and Mediawan entered into exclusive negotiations to acquire Troisième Oeil's audiovisual activities and acquired majority stake in Good Mood. The deal remains subject to works councils consultation and competition authorities' approvals. On September 21, 2020, the transaction is approved by French Autorité de la concurrence. The sale is expected to be completed in the second half of 2020.

Florence Khayat, Michael Wahl, François Gallizia, Rémi Loesch, Adrienne Kanamugire and Chloé Schmider of Eight Advisory acted as the financial advisors to Mediawan and its shareholders. Roy Thomas, Florence Ninane, Jules Lecoeur, Xavier Jancène, Ignacio Hornedo, Charles Del Valle of Allen & Overy LLP acted as legal advisor to Lagardère SCA. Mayer Brown LLP acted as legal advisor to Mediawan SA in the transaction.

Mediawan SA (ENXTPA:MDW) completed the acquisition of SAS Lagardère STUDIOS from Lagardère SCA (ENXTPA:MMB) for approximately €110 million on October 30, 2020. Mediawan SA issued 1.6 million shares as consideration. The transaction was financed from €30 million undrawn credit facilities of and by a €20 million shareholder loan from Mediawan Alliance.