Publigroupe sells its stake in Edipresse
Advertising marketer Publigroupe has sold its entire 19.9% stake in Edipresse. A 17.9% block of shares will be acquired by the majority shareholder of Edipresse, Lamunière SA, by May 25, 2010.
This sale is in line with Publigroupe's policy of divesting publishing interests that are no longer considered strategic, the company wrote in a press release on Monday. The divestments serve to further reduce debt and provide the Group with the necessary financial leeway to press ahead with the expansion of its key growth areas. This transaction will have a positive impact of CHF 15.3 million on Publigroupe's 2010 income statement.
Lamunière previously held 72.8 percent of the votes and 44.6 percent of the capital of Edipresse. Edipresse has sold the majority of its Swiss activities to Zurich-based Tamedia and is now mainly active in the international magazine business.
Lamunière previously held 72.8 percent of the votes and 44.6 percent of the capital of Edipresse. Edipresse has sold the majority of its Swiss activities to Zurich-based Tamedia and is now mainly active in the international magazine business.
