RCS Media Group sells its transalpine division to the French and raises cash. The Milan-based publishing holding company has announced its intention accept the offer from Madrigall SA, the company that controls the French publishing house Gallimard, for 100% of RCS Livres, which controls the Flammarion publishing group. However, RCS must first consult the union representatives of Flammarion and await the approval of the French antitrust authority.
Madrigall has offered 251 million euros to buy RCS Livres. On the basis of the book values as at 31 December 2011, Rcs estimates statutory and consolidated capital gains, gross of the tax effect, of approximately 121 and 88 million euros, respectively.
At Piazza Affari the Rcs stock earn 5,95% at €0,57 per share.
