May 30, 2008
After carrying out the required consultations and obtaining the necessary authorizations, Wendel sold Editis to the Spanish publishing group Planeta on May 30, 2008. The enterprise value is 1,026 million euros and Wendel’s net income from the sale is 500 million euros.
The merger of the two groups contributes to the emergence of a new publishing leader in Europe. It reflects the development strategy implemented by Editis and backed by Wendel. Since 2004, Editis made seven acquisitions (including de Boeck in Belgium) for a total of 150 million euros in net sales. In 2007, Editis reported net sales of 760 million euros, and operating income increased by 60% since 2004 to 93 million euros.
Planeta plans to pursue this development and amplify it, while maintaining intact the existing companies and management, with Alain Kouck as Chairman of the Executive Board.
About Wendel
Wendel is one of Europe’s leading listed investment firms. It invests in France and internationally in companies that are leaders in their sectors: Bureau Veritas, Legrand, Saint-Gobain, Materis, Deutsch, Stallergènes, Oranje-Nassau, and Stahl, in which it plays an active role as an industrial shareholder. It implements long-term development strategies designed to expand the growth and profitability of companies of significant size in order to bolster their positions as market leaders. Wendel reported consolidated net sales of 5.5 billion euros in 2007. Wendel is listed on the Euronext Paris Eurolist.
About Planeta
Planeta is the leader in Spanish-language publishing and a prominent media group in Spain. In partnership with the Italian group DeAgostini, it has a strategic and managerial equity interest in Antena 3, the second-ranking Spanish television channel. The Planeta Group is also the reference shareholder of three Spanish newspapers (la Razon, ADN and Avui) and the El Tiempo Group in Colombia. It reports net sales of 2.5 billion euros, one billion of which through some 40 publishing houses. It publishes more than 5,000 authors.
