Law firms Gide and Chiomenti advised Italian press group Arnoldo Mondadori Editore on the sale of 100% of shares in Mondadori France to French media group Reworld Media. The sale was finalised on 31 July 2019.
Under the agreement, Mondadori France was valued at EUR 70 million, plus a potential earn-out.
The deal also provides for Arnoldo Mondadori Editore to hold an 8-10% stake in the share capital of Reworld Media.
This operation is part of Mondadori group's repositioning strategy that places increasing focus on its core business.
The Gide team advising Mondadori was led by partner Jean-Gabriel Flandrois, working with counsel Cira Caroscio on corporate/M&A aspects, partner Foulques de Rostolan and associate Benjamin Krief on labour law aspects, partner Franck Audran and associate Mehdi El Alem Champeaux on competition law aspects, and partner Thomas Binet on financing aspects.
The Chiomenti team was led by partners Luca Fossati and Luca Liistro, working with associate Alessandro Buscemi on corporate/M&A aspects, and partner Giorgio Cappelli on financing aspects.