Mondadori buys books of RCS. The operations likely to change the structure in the publishing world has arrived at the finish line. Segrate will pay out 127.5 million euro with an adjustment mechanism of the final price (five million more or less) linked to the results of 2015. Not only. There is also a “good” for the Rizzoli Corriere della Sera, which will start in 2017, always tied to corporate results and set at 2.5 million.
To tell you the green light at this time the Board of Directors of RCS, together in the late afternoon, and the Mondadori now ending. Payment will be in cash at the closing of the transaction and before the green light Authority.
The team led by Ernesto Mauri for Mondadori and Pietro Scott Jovane for RCS, have thus come full circle after a negotiation that is standing by February.
Today there was also the board of directors of Mondadori operation, explains in turn the company Segrate in a statement, stating that the agreement will enable the group Mondadori consolidate its presence in Italy in the market for trade books and in textbook, as well as in the illustrated internationally.
The scope of the transaction includes the entire stake (99.99%) owned by RCS in society, with the underlying investments. At closing these will also include the 94.71% of Marsilio Editore Spa. The 58% owned in Adelphi Edizioni will be transferred instead to partner Roberto Calasso.
The activities referred to sales recorded in FY 2014 pro forma revenues to 221.6 million, EBITDA before non-recurring 8, 8,000,000 and investments to 11 million, of which 1.7 million is for the renewal of libraries Rizzoli.
The transaction price amounted to 127.5 million, based on an enterprise value of 130 and a net cash position mediae adjusted (also including the repurchase of minority Marsilio) of 2.5 million.
The agreement preserves for all the heads of the RCS Group the opportunity to continue to engage in publishing of books in line with what is currently offered to its readers. RCS MediaGroup then retains ownership of the brand Rizzoli for all uses except the book publishing activity.
The transaction, which will be settled in cash at closing, will allow RCS to one side to have resources Financial Investment business development, the other to strengthen its financial structure and to proceed in the path of redefining the major terms of the loan with the lending institutions.
All the details on the Messenger of Monday, October 5 on newsstands and in digital version
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