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Orrick Rambaud Martel advising RCS Mediagroup on sale of subsidiary Flammarion

Orrick Rambaud Martel is advising RCS Mediagroup, a European press and publishing company, in relation to the sale of its subsidiary Flammarion, which is led by Teresa Cremisi.

RCS Mediagroup accepted the EUR251m offer received from Gallimard to buy 100 per cent of RCS Livres, the parent company of Groupe Flammarion, which is the fourth largest publishing group in France.

Groupe Flammarion includes other major publishing companies such as Autrement, J’ai lu or Casterman.

The alliance between Flammarion and Gallimard would create the third largest independent French publishing group.

In order to be accepted and concluded, the deal is subject to prior consultation of Groupe Flammarion’s employee representatives and to the approval from the competition authority.

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