Arnoldo Mondadori Editore S.p.A., whose Board of Directors met today, has announced that the company has received a binding offer for the acquisition of the magazines Confidenze, Cucina Moderna, Sale&Pepe, Starbene and Tustyle from La Verità S.r.l..

The Board resolved to give a mandate to the chief executive, Ernesto Mauri, to take all the necessary steps to examine and finalise the operation, consistent with the Group’s previously announced strategy of focusing on the core businesses of Books, Retail and Magazines with high multimedia development potential.

The offer, which remains valid until 31 December 2019, foresees the creation of a NewCo, 75% of which will be held by La Verità S.r.l. and 25% by Arnoldo Mondadori Editore S.p.A.; the offer also involves an earn-out in favour of the partner Arnoldo Mondadori Editore S.p.A. and put/call mechanisms in favour of both partners.

The activities of the 5 titles that are the subject of the offer, in 2018, generated revenues of €22.4 million.

In line with legal provisions, the relevant trade union procedures will be followed.