The Mondadori Group announces that its subsidiary Mondadori France has completed, following the purchase of the 20% minority interest in the share capital, the disposal of 100% of NaturaBuy SAS: the marketplace for small ads and the purchase/sale of hunting, fishing and outdoor items has been acquired by NextStage, a private equity fund based in Paris.
The transaction is in line with the Mondadori Group’s plan to focus on core businesses, including through the disposal of non-strategic assets aimed at the development of the print and digital publishing brands held in its portfolio.
The disposal of 100% of NaturaBuy amounts to 12.2 million euro based on an enterprise value of 10.5 million euro.
In 2016, NaturaBuy achieved revenue of 2.6 million euro and EBITDA of 1.5 million euro.
The company will be deconsolidated as from 1 May 2017.
The impact on the 2017 net financial position of Mondadori France amounts to 9.4 million euro, net of the positive net financial position of the company and the purchase of the minority interest in NaturaBuy.
The disposal of this asset will produce a pre-tax gain of 4.3 million euro, strongly contributing to the achievement of the net profit and of the net financial position targets set in the guidance already disclosed to the market, which could be revised in the current year (with no impact on estimated adjusted EBITDA which, by definition, excludes non-recurring income).