Mondadori: extraordinary Shareholders’ meeting approves partial split of Elemond

 

An extraordinary general meeting of the shareholders of Arnoldo Mondadori Editore today approved the partial split of the subsidiary Elemond: the company will transfer, to the parent company Arnoldo Mondadori, its stakes in Einaudi and Mondadori Printing, its specialised magazine business and property holdings.

The split, that will not involve any equity exchanges given that the split company is already wholly-owned by Arnoldo Mondadori Editore, that will become effective on 1 April 2002, as part of a larger project aimed at re-organising the Elemond Group.

The project, approved by the Board of Directors at a meeting on 13 November 2001, aims to simplify the corporate structure and to align the business in which the Elemond goup is involved.

In fact, after the split approved today, the company will focus on its role as a an operating holding company for the Mondadori Group’s activities in the art and illustrated books sectors, the organisation of exhibitions and the management of museum bookshops.