Czech energy tycoon Daniel Křetínský is selling his stake in the French newspaper Le Monde to billionaire Xavier Niel’s NJJ Presse, the two sides said in statements on Saturday.
(Bloomberg) — Czech energy tycoon Daniel Křetínský is selling his stake in the French newspaper Le Monde to billionaire Xavier Niel’s NJJ Presse, the two sides said in statements on Saturday.
The transaction is worth about €50 million ($47 million), according to an earlier story that appeared in the Financial Times. The statements didn’t specify the value of the deal.
Once the deal is completed, NJJ Presse will transfer its shares to Niel’s Fund for Press Independance, according to the statement. The other main stakeholder will be Pole d’Independance, which holds the shares of employees and readers.
Prior to the agreement, about 72% of Le Monde was owned by Niel, Křetínský’s IMI, the estate of businessman Pierre Bergé and Spanish media group Prisa, the FT reported. The Pole d’Independance owns about 25% of the group.
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