Lagardere Studios could raise EUR 100m via 30% stake sale
Listed French media and sports group Lagardere, advised by SG, is understood to be close to finalising the arrival of new investors for its TV production subsidiary Lagardere Studios, French weekly Le Point reported.
The report said that the investment could be made via a reserved capital increase, giving a 30% stake in exchange of a EUR 100m payment, valuing the business at around EUR 300m. Potential investors include investment funds, private individuals and French state-owned investor Bpifrance.
This development was also reported in daily Les Echos, which cited several sources as saying that the funds would be used to finance the expansion of the group in Europe and potential acquisitions of targets with annual revenues of up to EUR 40m.
Lagardere Studios generate annual revenues of between EUR 200m and EUR 250m, the report added.
Le Point, Les Echos