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Mediawan in talks to buy majority stake in ON kids & family

French special-purpose acquisition company Mediawan SA is in exclusive talks to acquire a stake of between 51% and 55% in European children's animation producer ON kids & family for up to €50 million.

Under the offer, Mediawan will buy part of the shares owned by ON kids & family's minority shareholders for a range of between €30 million and €35 million, a portion of which could be paid in new Mediawan shares. At the same time, Mediawan will inject €15 million into ON kids & family for the latter's development efforts.

Once a deal is reached, the transaction is subject to customary closing conditions. ON kids & family is expected to undergo a reorganization, with its co-founders Aton Soumache and Dimitri Rassam continuing to lead the business and retaining their ownership of more than 40%. Soumache will also remain as ON kids & family's president and CEO.

ON kids & family has produced animated TV series and feature films such as "The Little Prince," "Miraculous Ladybug," "Robin Hood," and "Iron Man." Its unit ON Animation Studios is currently producing animated film "Playmobil," which is set for global release in April 2019.

Mediawan was co-founded by Iliad SA founder and majority owner Xavier Niel, Matthieu Pigasse and Pierre-Antoine Capton.