The Lagardère group (LGDDF.PK) announced the completion of the sale of EADS shares. The Group has received 2.283 billion euros for the disposal. The capital gain, net of taxes and transaction costs, is 1.8 billion euros.
Lagardère plans to divide the proceeds from the disposal between, firstly, a one-time premium for all Group employees, secondly a reduction of the Group's debt, and finally a one-time exceptional dividend for shareholders. The amount of the one-time dividend would be announced before the General Meeting.
Lagardère also said, it is reasserting the group's growth strategy, aiming to increase exposure to developing activities, specifically travel retail, digital, and rights management, which could result in targeted acquisitions.
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