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Announced

Exor to acquire GEDI at a €233m valuation.

Financials

Transaction Value

£203m

Consideration Type

Cash

Capital Owned

50%

Capital bid for

50%

EV/Sales

+ Add

EV/EBITDA

+ Add

Share Price Premium

60.9%

Transaction Tags

Mandatory Offer

Public

Single Bidder

Majority

Tender Offer

Publishing

Publishing and Broadcasting

Italy

Acquisition

Pending

Friendly

Synopsis

Exor, a holding company, incorporated in the Netherlands and controlled by the Italian Agnelli family, launched a mandatory tender offer to acquire all remaining shares in GEDI, an Italian media conglomerate, at a €233m ($252m) valuation. "With this transaction we're committing to a rigorous entrepreneurial project in support of GEDI as it addresses its future challenges. In addition to applying our media sector experience, also at an international level, EXOR will ensure the stability needed to accelerate the necessary technological and structural transformation," John Elkann, Exor Chairman and CEO. Exor raised a stake in GEDI to 92.03% on July 1, 2020.

Sources

Press Release

Exor

Financials

Transaction Value

£203m

Consideration Type

Cash

Capital Owned

50%

Capital bid for

50%

EV/Sales

+ Add

EV/EBITDA

+ Add

Share Price Premium

60.9%

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