Lagardère: State-guaranteed loan, Paris Match grieves loss
(CercleFinance.com) - Faced with an uncertain backdrop of a lingering health crisis, Lagardère has announced that it has arranged a 465 million euro loan with its main French and European partner banks, 80% of which is guaranteed by the State.
This loan, with an initial maturity of 12 months, comes with an extension option for up to five additional years. This option may be exercised by the company at its discretion at the end of the initial one-year period.
Alongside this announcement, last weekend Lagardère the death of Olivier Royant, the head of its iconic magazine Paris-Match, on 31 December at the Franco-British Hospital in Levallois-Perret, at the age of 58, after working with the magazine since 1987.
Under his leadership, the magazine smashed records, consolidating its position as one of the world's leading news magazines. Paris-Match was awarded the title of "magazine of the year" in October by the SEPM jury, the group said.
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