Quebecor Completes Hachette Purchase

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Quebecor World Inc. has completed the purchase of printing assets belonging to Hachette Filipacchi Medias in Europe and will proceed with integrating the acquisitions into its operations, the commercial printing firm said yesterday.

Quebecor, Montreal, takes over Hachette Filipacchi Medias' printing and bindery facilities in France along with the 50 percent of Helio Charleroi that Hachette owns in Belgium. The public investment firm that owns the other half of Helio Charleroi, Compagnie Nationale a Portefeuille, retains ownership until 2004.

Financial terms were not disclosed.

In addition to buying Hachette's assets, Quebecor will take over publication duties for many of Hachette's magazines in Europe. The value of this portion of the deal is estimated at $400 million.

Hachette Filipacchi Medias publishes 210 magazine titles in 34 countries, including Paris Match, Elle, Parents, Tele 7 Jours and TV Hebdo. Quebecor World employs 40,000 workers in about 160 printing facilities worldwide.

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