April 5, 2017 / 5:16 AM / 4 months ago

BRIEF-Gaumont to sell Les Cinemas Gaumont Pathe stake, launch buyback offer

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April 5 (Reuters) - Gaumont SA:

* Said on Tuesday it proposes a dividend of 1 euro per share which will be paid after July 25

* The independent appraiser concluded that the sale of Gaumont`s stake in the company Les Cinemas Gaumont Pathe to Pathe at a price of 380 million euros is in the interest of Gaumont and its shareholders

* Board of directors of Gaumont approved the sale of Gaumont`s stake and has decided to submit it to the approval of the shareholders General meeting

* Announced a public buyback offer at 75 euros ($80.04) per share, dividend attached, to a maximum amount of 1,657,313 shares and a maximum amount of 124,298,475 euros

* Cine Par and Nicolas Seydoux, holding a stake representing 64.59 pct of the capital and 70.85 pct of the voting rights of Gaumont, have indicated to the Company that they do not intend to tender their shares to the offer

* The offer would be open from May 29 to June 26

Source text for Eikon:, Further company coverage: ($1 = 0.9370 euros) (Gdynia Newsroom)

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