Deals
Drahi Agrees €1.6 Billion Altice Media Sale as Debt Looms
- Altice Media includes French news channel BFM TV, RMC radio
- Deal with Saadé family could help Drahi cut debt pile
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France’s billionaire Saadé family has agreed to buy Patrick Drahi’s Altice Media, including French news channel BFM TV, for a total enterprise value of €1.55 billion ($1.7 billion).
The clan’s CMA CGM shipping firm and Merit France family office will acquire 80% and 20% respectively of the share capital, the companies said in a statement on Friday. The deal’s completion is subject to approval by employee representatives and regulators.