Arab Today, arab today lagardere launches sale of stake in eads
Last Updated : GMT 00:21:04
Arab Today, arab today
Arab Today, arab today

Lagardere launches sale of stake in EADS

Arab Today, arab today

Arab Today, arab today Lagardere launches sale of stake in EADS

Paris - AFP

French media group Lagardere said Monday it had launched a private sale of the 7.4 percent stake it owns in the European defence and aerospace company EADS. "At the completion of the sale the Lagardere group will not hold any shares in EADS," the company said in a statement. The stake in EADS, which owns passenger aircraft manufacturer Airbus, was worth roughly 2.36 billion euros ($3.1 bn) at the company's share price on Monday. Lagardere said the price of the shares in the sale would be announced at the end of the book-building process and the results of the placement would released after completion. EADS committed to place an order to buy 500 million euros of its shares, the Lagardere statement said. The book building and placement was being handled by Bank of America Merrill Lynch, Societe Generale's Corporate and Investment Bank, and Credit Agricole's Corporate and Investment Bank. Lagardere is in the midst of a restructuring process to reduce debt and improve the market value of its main media assets. The media company holds magazine titles including Elle and Paris Match, sold off its foreign magazine stable to US media company Hearst in 2011 to 651 million euros. Last week it announced the sale of its 25 percent stake in Amaury, the publisher of the Le Parisien newspaper and sports daily L'Equipe, for 91.4 million euros. Lagardere is also looking for a solution for its 20 percent in pay-TV operator Canal+ France and a 42 percent stake in women's magazine Marie-Claire. The company suffered a 700 million euro loss in 2011 due to the poor performance of its sports assets, but rebounded in 2012 with a profit of 89 million euros.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today lagardere launches sale of stake in eads Arab Today, arab today lagardere launches sale of stake in eads

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today lagardere launches sale of stake in eads Arab Today, arab today lagardere launches sale of stake in eads

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday