Wendel to sell Editis to Planeta

Wendel and Planeta are expected to sign a sale agreement for Editis by late June for an enterprise value of just over €1bn.

Rumours had surfaced last year of suitors for Editis, with Italian publishing group RCS MediaGroup named in May as a potential bidder.

Since its acquisition of the company in 2004 for €660m (US$800m), to Spanish media group Planeta., Wendel has worked on developing and expanding the business, consolidating seven private publishing companies into Editis, six from France and one from Belgium.

Planeta is the largest Spanish media group. The deal will enable Editis to “expand outside the French-speaking world” according to Alain Kouck, chairman and chief executive of Editis, who will continue his role as CEO after the merger.

Jean-Bernard Lafonta, chairman of the Executive Board of Wendel said: “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.”

Calyon is advising Planeta.