18.11.2015 08:32:00
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Lagardère SCA: Decision Concerning a Commercial Dispute
Regulatory News:
World Sport Group, a subsidiary at 70% of Lagardère Sports and Entertainment, acknowledges the decision of the International Court of Arbitration, ordering the reimbursement of past proceeds, related to a commercial contract with MSM Satellite (Singapore) Pte Ltd, dating back to 2009.
The relevant amount, including interests, is around 26 M€ pre-tax, accounted for in the 2015 accounts of Lagardère Sports and Entertainment.
Given its exceptional and non-recurring nature, this finding will not be included in the Lagardère Group’s recurring EBIT in 2015, and thus does not impact its growth target for 2015, which was announced on 31 July.
Lagardère Sports and Entertainment has mandated its counsels to study all possible legal recourse.
The Lagardère group is a global leader in content production and distribution whose powerful brands leverage its virtual and physical networks to attract and enjoy qualified audiences.
It is structured around four business lines: Books and e-Books; Travel Retail; Press, Audiovisual, Digital and Advertising Sales Brokerage; Sports and Entertainment.
Lagardère shares are listed on Euronext Paris.
www.lagardere.com
Important Notice:
Some of the statements contained in this document are not historical facts but rather are statements of future expectations and other forward-looking statements that are based on management's beliefs. These statements reflect such views and assumptions prevailing as of the date of the statements and involve known and unknown risks and uncertainties that could cause future results, performance or future events to differ materially from those expressed or implied in such statements.
Please refer to the most recent Reference Document (Document de référence) filed by Lagardère SCA with the French Autorité des marchés financiers for additional information in relation to such factors, risks and uncertainties.
Lagardère SCA has no intention and is under no obligation to update or review the forward-looking statements referred to above. Consequently Lagardère SCA accepts no liability for any consequences arising from the use of any of the above statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151117007181/en/
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Lagardere S.C.A. | 20,30 | 0,74% |