PARIS: Tarsus Group PLC, a business-to-business media company, is selling its French business to Magellan VI SAS for up to EUR9.2 million, going further than a previous deal that would have involved a partial exit from France, Alliance News Limited is reporting.
The deal supersedes an earlier agreement disclosed to the market in January, under which Tarsus had undertaken to sell up to 18% of the French business to CRG Consulting SAS.
CRG will own 50.03 percent of Magellan VI SAS, the buyer, with Fonds de Consolidation et de Développement des Entreprises II holding the remaining 49.97 percent. Romuald Gadrat, the managing director of the French business, owns 80% of CRG.
Since 2010 we have reshaped the group’s portfolio to target a greater exposure to the US and emerging markets,” Managing Director Douglas Emslie said in a statement.
Tarsus shares were up 2.5 percent at 207.00 pence on Monday morning in London.
