The transaction will be effective as of 1st January 2003. After taking into account the shares in Corbaz SA which it already holds, the Edipresse Group will have a 75% interest in total.

The approval process had been extended at the request of the parties, in order to allow them to meet all the ComCo's information requirements. The sale contract was originally signed in May 2002.

Several measures were suggested during the review proceedings, which helped the transaction to go through. Edipresse agreed to cancel a competition restriction clause imposed on Publicitas in the advertising agency contract and not to purchase the local Vevey TV station ICI TV. Also, Edipresse is to reduce its shareholding in Rhône-Média SA to less than 33% and to give up its seats on the board.

Edipresse and the Corbaz family are pleased by the positive outcome, which will enable the two companies to develop effective, professional solutions in the press and printing segments in the Canton of Vaud.

As we already indicated in May 2002, the current operational activities of the Corbaz Group will continue as they are, without any redundancies arising from the change in majority shareholder.

Contact us

For further information:

Tibère Adler
Deputy Chief Executive Officer Edipresse Switzerland
Phone +41 (0)21 349 45 24