2023-09-23 15:26:06
NJJ Presse, the holding company of French billionaire Xavier Niel, announced on Saturday September 23 in a press release that it had purchased Daniel Kretinsky’s shares in the Le Monde Group.
“All of the shares held since 2019 by Mr. Daniel Kretinsky’s company in the company Le Nouveau Monde were acquired by NJJ Presse (…) with the irrevocable commitment of NJJ Presse to transfer these shares, jointly with the shares already held directly, to the Press Independence Fund »we can read in this press release.
Daniel Kretinsky, who has increased his investments in major media in recent years, specifies that he “will continue to support French securities and guarantee their independence as shareholders” for example at Elle, Marianneor the review Franc-Stireur, “or as a lender” for everyday Release. The Financial Times had reported shortly before that an agreement was close on a buyout of the shares of the Czech energy magnate, a transaction worth around 50 million euros.
Unanimous agreement of the Pole of Independence
“This agreement seals the exit of Daniel Kretinsky from the capital of our group. Xavier Niel will contribute these shares, along with those he already holds, to the Press Independence Fund, an endowment fund which will thus become the first shareholder. of the Le Monde Group, announced Louis Dreyfus, chairman of the management board of Monde and Jérôme Fenoglio, director of Mondein a message sent to employees on Saturday.
NJJ Presse specifies that at the end of these movements, “the first two shareholders of the Société Éditatrice du Monde will be on the one hand the Fund for the independence of the press which provides in its statutes the non-transferability of the shares of the Société Éditatrice du Monde, and on the other hand the Pôle d ‘Independence which brings together editors’ companies, staff companies and the readers’ society of Le Monde. »
The Independence Center of the Le Monde Group, which brings together journalists and staff companies, welcomed in a press release “of the repurchase by Xavier Niel of the shares held indirectly by Daniel Kretinsky with a view to transferring them to the Press Independence Fund, established in 2021”. “Requested in advance as required by our statutes, the Pole unanimously approved these buyback and transfer operations which result in the departure of a shareholder having, moreover, never requested its approval by the Pole”he specifies.
Xavier Niel’s holding company adds that the company Le Nouveau Monde remains a limited partnership whose control remains in the hands of Matthieu Pigasse. The investment banker, member of the trio of businessmen, including Xavier Niel, who had invested in the newspaper the previous decade, “will ensure the transfer of its shares in the company Le Nouveau Monde to the Endowment Fund”specifies NJJ.
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