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Lagardère: offer received for 75% of Lagardère Sports

(CercleFinance.com) - Lagardère announces that it has received a purchase offer from H.
I.G. Capital for 75% of Lagardère Sports, valuing Lagardère Sports at around 110 million euros, along with the entire Lagardère Sports and Entertainment division at around 150 million euros.

The group expects to book an impairment charge estimated at between 210 million and 240 million euros, which in particular reflects the unilateral termination of the contract with CAF. It aims to complete the transaction by the end of Q1 2020.

In addition, Lagardère will hold an Investor Day in early 2020, as it publishes its 2019 annual results during which it will present the strategy, outlook and operational performance of the activities of Lagardère Publishing and Lagardère Travel Retail.

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