Lagardère Active selects the 4B MEDIA-GROUPE ROSSEL and REWORLD MEDIA consortium for the sale of 10 of its magazines.

Lagardère Active has accepted a firm and irrevocable offer from 4B Media-Groupe Rossel and Reworld Media for the sale of its Psychologies, Be, Première, Pariscope (printed format only), Maison & Travaux, Le Journal de la Maison, Campagne Décoration, Mon Jardin Ma Maison, Auto Moto and Union titles.

This disposal forms part of the strategic refocusing of Lagardère Active’s magazine division.

The offer has been made by a consortium:

* 4B Media is equally owned by four Belgian media companies and entrepreneurs:
– Groupe Rossel (leading Belgian French-language press group, and owner in particular of Groupe La Voix du Nord and the Champagne-Ardenne division in France);
– Edition Ventures (publisher of some 20 magazines in Belgium including Psychologies and Elle);
– Deficom Group (leading Belgian communication and events group);
– Stefan Descheemaeker, entrepreneur and investor.

* And the listed Reworld Media group, which owns seven magazines in France (including Marie France and Télé Magazine).

The purchasers offer strong guarantees of long-term financial soundness, acknowledged print and digital magazine industry expertise and established structures for operating and marketing magazine titles and sites.

The consortium has given commitments meeting the objectives set by Lagardère Active in terms of price, production efficiency and labour-related guarantees (in particular: to guarantee employment and maintain pay).

The purchase offer specifies that the ten magazines will be split in line with the specific expertise of each partner in the consortium:
– Psychologies and Première: 4B Media-Groupe Rossel
– Be, Pariscope (printed format only), Maison & Travaux, Le Journal de la Maison, Campagne Décoration, Mon Jardin Ma Maison, Auto Moto and Union: Reworld Media

The offer includes the transfer of all employees in publishing and other functions working for the titles. Employees of Lagardère Active’s functional departments might also join the purchasers under a voluntary transfer agreement.

The parties intend to complete the deal no later than 31 August 2014.

The relevant Lagardère Active staff representative bodies will be consulted shortly to give them the opportunity to present their opinion on the transaction.

Denis Olivennes, Chairman and Chief Executive Officer of Lagardère Active, says: “We have selected experienced printed and digital publishing companies with ambitious and sound objectives which can ensure the future of these ten titles and the people who work on them.”

Oddo Corporate Finance and Bredin Prat and Actance are Lagardère Active’s financial and legal advisors on this sale.