Endemol buys back Endemol France from Telefónica

MUMBAI: Endemol has announced a deal to buy back Endemol France from parent company Telefónica.

Endemol has valued the transaction up to 450 million euros. Of this amount 194 million euros will be deferred over a period of four years and will be subject to the performance of Endemol France, linked to the realisation of the business plan 2007- 2010 approved by the Board of Endemol France. The transaction will be financed by bank debt and future cash flow.

In 2006 Endemol France is expected to realise net turnover of around 175 million euros at a normalised EBITDA margin which is considerably above the average of the Group. Endemol France’s business mix is 10 per cent digital media and 90 per cent non-scripted, led by formats such as Star Academy, Deal or No Deal and Watch Your Step.

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