Lagardère making another print divestment

Lagardère SCA will sell its press distribution business in Europe and Canada,

the

Wall Street Journal

reported.

The company plans to keep Curtis Circulation Co., its U.S. magazine distribution unit, the article said.

In 2011 Lagardère sold the international versions of its magazines to Hearst Corp. It is also selling several of its magazines in France and may sell others in the future, the

Journal

article said.

This year, Lagardère sold minority stakes in European Aeronautic Defence & Space Co. and the French arm of Cabal Plus, Vivendi SA’s pay-TV company, the article said. About half of the €3.3 billion ($4.54 billion) Lagardère raised by selling those assets will be returned to shareholders, the

Journal

reported.

The

Journal

report said Lagardère is concentrating on expanding its travel retail business. It plans to invest some of the money from its divestments into its duty-free, fashion and food retail stores, the

Journal

article said. (Source:

Wall Street Journal,

Dec. 16, 2013.)