LagardÃ¨re remains determined to sell its 20% stake in Canal Plus France and hopes to launch an IPO in the course of the next few months, according to company chief Arnaud LagardÃ¨re.
LagardÃ¨re told the companyÂs annual meeting yesterday that it would sell the stake Âno matter whatÂ. LagardÃ¨re was forced to abort earlier plans for a flotation in March as a result of unfavourable market conditions.
LagardÃ¨re told the meeting that he envisaged operational income growth in the order of 10% this year from the companyÂs media divisions. In addition to the sale of the Canal Plus stake and the sale of its international magazines arm to Hearst Corp (due to be finalized in May or June), LagardÃ¨re said further sales could follow, along with possible acquisitions for LagardÃ¨re Unlimited in Asia or the US.
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