Italian publisher RCS MediaGroup (owner of Corriere della Sera) has approved a proposal to buy 100% of Spanish Recoletos Grupo de Comunicacion, valuing the company at 1.1 billion €. A wide majority of the board of Recoletos approved the offer.
The closing of the acquisition is subject to due diligence, a contractual agreement with all of the selling shareholders by March 31 and regulatory approval.
The Italian publisher already controls Unedisa Group, publisher of El Mundo, Spain's second- biggest general news daily paper. The operation, when completed, will create a leading publishing group in Spain in the national daily newspaper sector both in terms of circulation figures and readership numbers
Recoletos Group owns Spain’s best selling business and financial daily Expansión and the country’s best-selling sports daily, Marca.
The Recoletos transaction does not include Que!, Spain’s largest circulated free daily paper, which will continue to be owned by Recoletos' shareholders.
If you wish to receive further information, contact us at +32 2 343 43 71 or j.mineur@mediacontact.net. Mediacontact International represents El Mundo, Expansión, Marca and Qué! in BENELUX |
