French media-to-aerospace conglomerate Lagardere (LAGA.PA) has agreed to sell its international magazines unit to U.S.-based Hearst Corp. for a total of 720 million euros, Le Figaro reported on Monday. The paper said the deal involved 650 million euros in cash and 8 million euros per year in royalties related to Elle magazine. It did not where it got the information. The deal gives the women's magazine a net value of at least 70 million euros, the paper reported. Lagardere will retain that brand, its merchandising and have the right to check editorial content, Le Figaro said. (Reporting by Helen Massy-Beresford; Editing by Will Waterman)
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