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PARIS — French media group Lagardère said it would dispose of its 25 percent stake in the Amaury group for 91.4 million euros, or $117.13 million at current exchange.
France’s largest magazine publisher has entered into an agreement with Les Editions P. Amaury, the holding company of the Amaury group, which will buy back its own shares from the Lagardère group.
The deal is pending approval by the board of directors and the general shareholders’ meeting of Les Editions P. Amaury.
Amaury is the French media group that owns Le Parisien and L’Equipe. Its other core business is the organization of sporting events such as the Tour de France.