Lagardere says it closes in on sale of Paris Match magazine to LVMH
PARIS, May 22 (Reuters) -French media and business conglomerate Lagardere LAGA.PA said on Wednesday it is moving closer to a sale of its Paris Match magazine to luxury goods giant LVMH LVMH.PA, on an enterprise value price tag of 120 million euros ($130 million).
"At its meeting today, the Board of Directors of Lagardère SA noted the satisfactory progress of the exclusive discussions initiated with the LVMH group on 27 February 2024, following the offer received for Paris Match magazine, and authorised the signature of a preliminary memorandum of understanding and the continuation of exclusive negotiations," said Lagardere.
($1 = 0.9229 euros)
Reporting by Sudip Kar-Gupta; Editing by Kirsten Donovan
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