BERLIN (Reuters) - Germany's Axel Springer SPRGn.DE plans to sell its majority stake in online platform aufeminin S.A. OFMN.PA to France's TF1 TFFP.PA news channel for 286 million euros ($335.4 million).
The publisher signed a put option on Tuesday to sell its 78 percent stake in aufeminin which runs a lifestyle website with news on topics such as fashion, beauty and healthcare.
“We have sold a non-core asset at a very, very attractive price,” finance chief Julian Deutz told reporters late on Tuesday.
Berlin-based Axel Springer, listed on Germany's mid-cap index .MDAXI MDAX, earlier on Tuesday announced a purchasing price of 38.74 euros per share, a 45-percent premium on last Friday's close.
Axel Springer expects a brief review of the planned transaction by labor representatives and then will sign a sale agreement, with the closing expected in the first quarter next year after a review by antitrust authorities, Deitz said.
($1 = 0.8527 euros)
Reporting by Douglas Busvine. Writing by Andreas Cremer. Editing by Adrian Croft
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