Clifford Chance has advised long-standing client Sanoma on the sale of Mood for Magazines to Linda de Mol and Talpa Network. Mood for Magazines is the publisher of personality magazine LINDA. and its extensions. The buyer is Linda de Mol, founder and minority shareholder of Mood for Magazines, together with Talpa.
In 2018, net sales of Mood for Magazines were EUR 27 million, operational EBIT EUR 6 million and free cash flow EUR 4 million. Value of Mood for Magazines, of which Sanoma owns 86%, is EUR 47 million. Mood for Magazines has 53 employees. The transaction is subject to closing conditions, including an approval by Sanoma Media Netherlands’ works council, and is expected to be closed in Q1 2019.
The team is led by Greg Crookes (Picture) and included Floris van de Bult, Michiel Sunderman, Jaap Tempelman, Willemijn de Wit, Sanne Blankestijn and Pascal Borsjé.
Involved fees earner: Sanne Blankestijn – Clifford Chance; Pascal Borsjé – Clifford Chance; Gregory Crookes – Clifford Chance; Michiel Sunderman – Clifford Chance; Jaap Tempelman – Clifford Chance; Floris van de Bult – Clifford Chance;
Law Firms: Clifford Chance;
Clients: Sanoma Corporation;