The firms Gide and Chiomenti advised the Italian press group Arnoldo Mondadori Editore on the sale of 100% of the shares in Mondadori France to the French media group Reworld Media.
Under the agreement, which has yet to be approved by the competition authority, Mondadori France has been valued at €70 million, plus a potential earn-out.
Also a result of the deal, Arnoldo Mondadori Editore will hold an 8% to 10% interest in the share capital of Reworld Media.
This operation is part of the Mondadori group's repositioning strategy, placing increasing focus on its core business.
The Gide team that advised Mondadori was led by Jean-Gabriel Flandrois, partner, with Cira Caroscio, counsel, on corporate /M&A aspects, Foulques de Rostolan, partner, and Benjamin Krief, associate, on labour law aspects, and Franck Audran, partner, on competition law aspects.
The Chiomenti team was led by Luca Fossati and Luca Liistro, partners, with Alessandro Buscemi, associate, on corporate/M&A aspects.