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11th May 2008

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Wendel to sell Editis to Planeta

22.04.08 Philip Jones

French investment group Wendel is to sell France's second largest publisher Editis to the Spanish media giant Planeta after entering into exclusive negotiations with the group. The deal, for an expected E1bn, brings to end months of speculation after Wendel effectively signaled its intention to sell off its publishing unit in January.

The sale agreement could be signed before the end of June 2008, Wendel said.

Planeta said it would continue to develop Editis, to preserve the integrity of the group and to retain its current management, with Alain Kouck as chief executive. Kouck said: "The merger of Editis with Planeta is an important step. It will give a fillip to the growth of our group, enable us to build a new European publishing leader and ensure that Editis can expand outside the French-speaking world."

Jean-Bernard Lafonta, chairman of the executive board of Wendel, added: "Alain Kouck's strategy has made Editis into a major player in French publishing. Combining it with Planeta is in line with our strategy to create and internationalize leading companies. We are pleased to have contributed to this strategic development."

Planeta is the largest Spanish media group and the world-leader in Spanish-language publishing. The Planeta group has sales of E2.5bn, of which approximately E1bn comes from its more than 40 publishing houses. It publishes more than 5,000 authors.

Editis, once part of the now defunct Vivendi empire, has a turnover of about €760m, and is the French publisher of Khaled Hosseni and Harlan Coben.

Editis rises again

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