Lagardere : Acquisition of Simon & Schuster by Bertelsmann, what read-across for Lagardère?
>Bertelsmann strengthens its leadership in the publishing market - Yesterday, ViacomCBS announced the sale of the publishing group Simon & Schuster to Penguin Random House (PRH), a subsidiary of Bertelsmann for $ 2.175bn in an entirely cash deal. This price was above that alluded to in the press over recent week ($ 1.7bn, then $ 2bn). The deal was made at a multiple of 15x 2019 EBITDA, i.e. well above that revealed by our valuation for Lagardère Publishing (10x). We ...Lagardere Groupe is a holding company. Through its subsidiaries, Co. is engaged in the media industry (news, education, culture and entertainment businesses). Co.'s main activities in the media industry can be divided into four separate divisions. Lagardere Publishing includes Co.'s Book Publishing and e-Publishing businesses. Lagardere Active encompasses Co.'s Magazine Publishing, Audiovisual (Radio, Television, Audiovisual Production), Digital and Advertising Sales Brokerage businesses. Lagardere Services encompasses the Travel Retail and Distribution businesses. Lagardere Unlimited specializes in sports and entertainment.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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