June 15, 2020 / 12:04 PM / 20 days ago

Lagardere looking to sell live entertainment assets - Les Echos

PARIS (Reuters) - French media group Lagardere is looking to sell its live entertainment assets including the famous Les Folies Bergeres cabaret for some 70 million euros ($79 million), French daily Les Echos reported on its website.

The assets also comprise the Bataclan and Casino de Paris venues in Paris and arenas in Bordeaux and Aix en Provence.

Potential buyers such as financial group Fimalac, media giant Vivendi and concert organiser Live Nation have been approached.

However, they have deemed the price too high and the timing poor as the coronavirus crisis has shut down live venues in France, Les Echos said.

Lagardere had no immediate comment.

In May, France’s business elite closed ranks around Lagardere with LVMH’s Bernard Arnault and Vivendi’s Vincent Bollore swooping in to bolster its defences against London-based hedge fund Amber Capital.

($1 = 0.8894 euros)

Reporting by Dominique Vidalon, Mathieu Rosemain; editing by Jason Neely

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