Quebecor inks deal with Dutch investors

Printing assets sell for $205 mil

TORONTO -- Quebec media giant Quebecor said Thursday that it has secured a deal to sell its struggling European printing assets to a Dutch investment group for CAN$203.4 million ($205 million).

But the sales price to Hombergh/De Pundert Group is well down from the $341 million price that Montreal-based Quebecor failed to secure for its European assets last November from Dutch printer Roto Smeets De Boer NV after its stockholders voted the deal down.

Quebecor World, Quebecor's printing operations, has subsequently operated under creditor protection since January.

Quebcor also operates in Quebec Groupe Videotron, the provincial cable giant, Groupe TVA, the French language TV network, publishing assets and TVAFilms, the movie distributor.