Gallimard welcomes LVMH as 9.5% shareholder
French family-owned publisher Gallimard finalised a capital increase reserved to listed French luxury group LVMH, which will end up with a 9.5% stake in the holding company Madrigall, French daily Les Echos reported. The report cited Antoine Gallimard, chairman and chief executive of Gallimard, as confirming the news. He did not disclose the amount of the reserved capital increase, but the report claimed that the investment is valued at between EUR 25m and EUR 30m.
Gallimard was advised by Neuflize OBC, and his family remains a majority shareholder in the business with a little more than 50%. Gallimard reported revenues of EUR 420m in 2012, including the recently acquired Flammarion.
Les Echos