PARIS, FRANCE: M6 Group (Paris:MMT) has entered into exclusive negotiations with the company Passat S.A., with a view to the sale of its subsidiary Best of TV, which is 51% owned.
Best of TV (importer / wholesaler) offers, for mass retail, various niche products including some that are exclusive to home shopping. They are generally accompanied in store by modern and attractive displays with a demo vide.
Passat S.A. and Best of TV evolve in the same competitive universe and offer different and complementary ranges to their customers. This complementarity of offer, as well as the sharing of common values, will accelerate the development of their business.
This project has the support of the management of Best of TV.
Completion of the transaction remains subject to finalisation of the negotiations and to consultation with employee representative bodies.
With this disposal, M6 is continuing the turnover of its diversification portfolio whose development is notably based on the strength of the Group’s TV channels.