Mondadori Group: agreement signed for the sale of the investment in Mediamond S.p.a. to Publitalia ‘80 S.p.a.

Arnoldo Mondadori Editore S.p.A. has announced today’s signing of the contract of sale of the entire stake in Mediamond S.p.A. – advertising sales company – equal to 50% of the share capital and held by its subsidiary Direct Channel S.p.A., to Publitalia ‘80 S.p.A. The transaction will take effect from 1 January 2024 and will allow Publitalia ‘80 S.p.A., which already holds 50% of Mediamond S.p.A., to increase its stake to 100%.

The transaction price was defined on the basis of the pro-rata value of equity as at 31/12/2023, expected to amount to € 1.4 million and corresponding to the book value of the interest, with consequent neutral accounting effects on the Mondadori Group’s consolidated result.

The sale is consistent with the strategy already announced by the Mondadori Group to focus on the sector of books and a gradual easing off of its presence in business areas that are no longer central and, in particular, sectors heavily associated with advertising revenue.

In the context of the transaction – pursuant to the regulation approved with Consob Resolution no. 17221 of 12/03/2010, as amended – Publitalia ‘80 S.p.A. qualifies as a related party of Arnoldo Mondadori Editore S.p.A. since the former is a company subject to joint control with Arnoldo Mondadori Editore S.p.A.

Nevertheless, the transaction is of lesser importance since it does not exceed the thresholds identified pursuant to article 4, paragraph 1, letter a) of the aforementioned Consob Regulation.

The sale was consequently approved by the Board of Directors of Arnoldo Mondadori Editore S.p.A. following a motivated – non-binding – favourable opinion on the company’s interest in executing the transaction and on the expediency and substantial fairness of the related conditions issued by the Related Party Committee, formed exclusively of independent directors.