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    ILD   FR0004035913

ILIAD

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Mediawan to buy Lagardere Studios and form new holding company

06/22/2020 | 01:59am EDT

By Sudip Kar-Gupta

French group Mediawan announced on Monday a raft of deals, including the acquisition of Lagardere Studios, as part of a broader expansion laid out by its founders, who will also establish a new holding company for the business.

Mediawan said its planned takeover valued Lagardere Studios at around 100 million euros (£90.4 million), as parent company Lagardere restructures and sells off assets it considers as non-core to its business.

Lagardere said the sale would enable it to focus on developing its Lagardere Publishing and Lagardère Travel Retail businesses.

Mediawan was set up in late 2015 by leading French businessmen Pierre-Antoine Capton, founder of French media firm 3e Oeil Productions; Xavier Niel, founder of telecoms group Iliad; and financier Matthieu Pigasse, with a view to challenging the likes of Netflix with premium audiovisual content.

Those three said on Monday they would set up a new company called Mediawan Alliance to develop the existing Mediawan business further.

As part of this, Mediawan Alliance will launch a tender offer on all Mediawan securities at a price of 12 euros per share and 0.65 euros per warrant. The 12 euros price marks a premium of 42.3% to Mediawan's closing price on June 19.

Mediawan will also buy a majority stake in Spanish-based audiovisual firm Good Mood, and hold a minority share in German audiovisual company Leonine.

(Reporting by Sudip Kar-Gupta; Editing by Muralikumar Anantharaman and Lincoln Feast.)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ILIAD 0.00% 182 End-of-day quote.8.27%
LAGARDÈRE S.A. 0.27% 22.68 Real-time Quote.10.45%
MEDIAWAN 0.00%End-of-day quote.10.15%
NETFLIX, INC. 4.48% 653.16 Delayed Quote.15.61%
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Analyst Recommendations on ILIAD
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Financials
Sales 2020 5 871 M 6 825 M 6 825 M
Net income 2020 427 M 496 M 496 M
Net Debt 2020 11 179 M 12 995 M 12 995 M
P/E ratio 2020 23,3x
Yield 2020 1,78%
Capitalization 10 662 M 12 369 M 12 394 M
EV / Sales 2019 2,48x
EV / Sales 2020 3,58x
Nbr of Employees 15 100
Free-Float 11,3%
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Duration : Period :
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Income Statement Evolution
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Nicolas Emmanuel Jaeger Group Chief Financial Officer & Senior VP
Xavier B. Niel Chairman
Virginie Calmels Independent Non-Executive Director
Bertile Burel Independent Non-Executive Director
Céline Lazorthes Independent Non-Executive Director
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