France's TF1 in talks with Axel Springer for stake in Aufeminin group

France's TF1 news channel said on Monday it was in exclusive talks with Germany's Axel Springer to buy its 78.43 percent stake in aufeminin S.A., which runs a lifestyle website.


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The site covers news on topics such as fashion, beauty and healthcare.

"Whether or not an agreement will be reached by the negotiating parties as well as the terms of such an agreement will depend on the further progress of the discussions," TF1 said. The TF1 group is controlled by Bouygues.

Established in 1999 under the same name as the lifestyle website, the Aufeminin group was bought from its founders Anne-Sophie Pastel, Marc-Antoine Dubanton and Cyril Vermeulen in 2007 by the German media group Axel Springer. The group now has 15 media brands in development across over 20 countries. Its last known turnover was 93 million euros in 2015.

The market value of 100% of its capital is about 252 million euros.

Axel Springer confirmed the talks.


FashionNetwork.com with Reuters

 

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