Mediahuis NV, a media group with operations in Belgium, the Netherlands and Ireland, announced today that it has bought the publisher Saint-Paul Luxembourg SA.
Mediahuis representatives have confirmed the acquisition of all the shares of Luxembourg's largest media group, in agreement with Lafayette SA, the parent company behind Saint-Paul Luxembourg.
The acquisition is expected to accelerate the digital transformation of the Luxembourgish media group and represents geographical expansion into the Grand Duchy for Mediahuis.
Reportedly, Lafayette, hitherto the main shareholder in Saint-Paul Luxembourg, will remain involved in the further development of the group through a minority stake in Mediahuis.
Pit Hentgen, Chairman of the Board of Directors of Lafayette, commented: "Mediahuis is an ideal partner for Saint-Paul Luxembourg: solid, innovative and respectful. This means that the DNA of our two organisations fits well together. The partnership with Mediahuis guarantees that Saint-Paul Luxembourg, as Luxembourg's largest media group, will retain its identity and local roots".
Gert Ysebaert, CEO Mediahuis Group, added: "The mix of nationalities and cultures, combined with a prosperous and innovative business climate, make the Grand Duchy of Luxembourg an interesting geographical expansion for our group. [...] Over the past few years, Mediahuis has been able to build extensive expertise in the digital transformation of our organisation, our brands and our products and services. Thanks to this experience and the scale of our group, the media brands of Saint-Paul Luxembourg can now accelerate their digital transition and continue to develop in the current digital context, while respecting their history".
