Arnoldo Mondadori Editore announced Wednesday, July 24, the sale of its subsidiary Mondadori France to Reworld Media has received clearance from the French regulator, Autorité de la Concurrence.
In accordance with the remedy set out in the clearance, Reworld Media undertakes to sell a title of its choice that could be either L’Auto-Journal, published by the joint venture Editions Mondadori Axel Springer, or Auto Moto, published by Reworld Media.
The cash and stock deal is valued at €70 million (US$77.9 million), debt free, also adding an earn-out of €5 million (US$5.6 million).
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