Mon, 18 Feb 2019 09:16:17 GMT
Publicis Groupe announces that, following a competitive sale process, conducted with the help of a major bank, its subsidiaries that own Proximedia have entered into exclusive negotiations with Ycor for the sale of all of Proximedia. With operations in France, Belgium, the Netherlands and Spain, Proximedia provides digital services to SMEs, small enterprises, small shops and craftsmen for their online presence and promotion.
This proposed disposal is consistent with Publicis Groupe’s 'Sprint to the Future' plan and will enable the Groupe to focus on its core assets at the heart of its strategy. Proximedia has yet to break even since the beginning and requires substantial investment for it to expand and become profitable. As at December 31st, 2018, Proximedia has 575 employees, including 231 in France, 311 in the Benelux and 33 in Spain.
The process reached more than 60 potential candidates. Nearly 10 investors (strategic and financial) expressed interest in a total or partial acquisition of Proximedia. Ycor’s bid was the best from all criteria: it includes Proximedia’s operations in Benelux, Spain and France, it is the highest financially and the most convincing in terms of development prospects.
This proposed disposal is subject to prior information and consultation with the relevant employees representative bodies and should be completed during the first half of 2019.
In light of the process and the offers received, the Management Board unanimously approved its entry into exclusive negotiations. In addition, to the extent Maurice Lévy, the Chairman of the Supervisory Board of Publicis Groupe has interests in Ycor, the Publicis Groupe’s Supervisory Board (in the absence of its Chairman), has given a positive opinion of the proposed sale, without prejudice to the final decisions of the relevant corporate bodies.view more - Hires, Wins & BusinessPublicis Worldwide, Mon, 18 Feb 2019 09:16:17 GMT