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The Lagardère Group announced today the signing of an agreement to acquire the entire capital of IEC (« International Events and Communication in Sports »). The acquisition agreement provides for an initial cash payment of EUR 43 million. Deferred payments over the next three years will follow, based on the achievement of certain income and cash flow targets.
goetzpartners Corporate Finance acted as advisor to Lagardère in this transaction, which will be finalised upon regulatory approval by German competition authorities, due no later than August 2007. The role of goetzpartners was a determining factor in the conclusion of this transaction, not only in terms of its thorough understanding of the Media sector, but also because of its ability to set up, coordinate and conclude transnational operations.