Lagardère Board Approves Preliminary Agreement and Exclusive Negotiations with LVMH for Paris Match Sale

The Board of Directors of Lagardère SA has authorized the signing of a preliminary memorandum of understanding and the continuation of exclusive negotiations with LVMH for the sale of Paris Match.

During its meeting on May 22, 2024, the board noted the satisfactory progress of exclusive discussions with the LVMH group, which began on February 27, 2024, following LVMH’s offer for Paris Match. The non-binding memorandum outlines the sale based on an enterprise value of €120 million, pending final negotiations.

The relevant employee representative bodies will be consulted. Final agreements may be signed by the end of July 2024, subject to competition authority approval, with a possible completion date at the end of September 2024.