LVMH And Lagardere Move Closer To Selling Paris Match Magazine

(CTN News) – LVMH has expressed interest in buying Paris Match magazine from French media and business giant Lagardere, as it announced on Wednesday that it is getting closer to selling the magazine to the luxury goods giant.

“We are getting closer to selling the magazine,” Lagardere said. In light of this revelation, it is clear that the corporation is getting closer and closer to selling the magazine publication.

The global business LVMH,

Which is a behemoth in this area, is the dominant player in the luxury goods industry with a dominant market share.

In connection with this transaction, a price tag of 120 million euros, which is equivalent to 130 million dollars, has been affixed as the enterprise value price tag. In the event that the product is valued at the enterprise level, the price tag will be displayed on the particular product.

After the Board of Directors of Lagardère SA received an offer for Paris Match magazine, they made a note of the satisfactory progress that has been made in the exclusive conversations that were initiated with the LVMH group on February 27, 2024.

These discussions were initiated with the intention of acquiring Paris Match magazine. The acquisition of Paris Match magazine was the motivation behind the beginning of these negotiations.

These discussions were started as a response to the offer that was received, which was the reason why they were started. As a response to the fact that the offer was brought to the knowledge of the firm after it had been brought to their attention, these conversations were started as a reaction to an event that occurred.

According to Lagardere, the Board of Directors gave its support for the continuation of exclusive negotiations while also approving the signing of a preliminary memorandum of agreement.

This approval was given LVMH simultaneously.

There was simultaneous signatures on both of the documents. Discussions that are not open to the public are now taking place. In addition to being the owner of the French newspaper Le Parisien, LVMH is also the owner of the French financial weekly Les Echos and the French daily newspaper Le Parisien.

Both of these publications are owned by the same company. The country of France is the publisher of both of these periodicals. There is not a single one of these newspapers that does not have its headquarters in Paris.

It has been asserted by Lagardere that it is highly probable that the sale of Paris Match, a publication that blends coverage of current events with photographs of celebrities and other members of the royal family, will be finalized by the end of September.

There is a chance that this will occur. The Paris Match is a journal that blends images of renowned individuals with reports on current events. It is a quarterly that is known as Paris Match.

A media conglomerate known as LVMH Vivendi now holds 59.71 percent of the corporation as a result of its acquisition of Lagardere, which took place over the course of the previous year. The situation is currently as it is described above.

The proprietor of Louis Vuitton approached Lagardere with a suggestion, and the board of directors ultimately chose to pursue exclusive conversations with the company.

Lagardere was approached by the proprietor. The conclusion that was reached was reached after taking into consideration the earnings statement that was made accessible to the general public by the publisher on Tuesday.

Vivendi was able to effectively finalize the LVMH acquisition of the company during the course of the preceding year. Furthermore, in addition to its operations in other industries, the company is also involved in the distribution of goods that are specifically relevant to travel.

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