Bertelsmann, the media conglomerate from Germany has recently announced its plans to sell off a stake in broadcasting entity RTL Group. The said sale is estimated to be worth as much as Eur1.5 billion or US$1.93 billion.
Even with the sale, Bertelsmann would be cutting its shareholdings from 92.3% to 75% in a secondary placement according to the company, which was confirmed by Reuters last month.
The proceeds of the stake sale would be to fund growth and overhaul its business to be more attuned to the ever changing markets.
The shares for sale would be offered to private placements and institutional investors through a public offering as well as trade on European exchanges such as Frankfurt, Luxembourg and Euronext.
The company is now expanding into digital content and emerging markets in order to support its beleaguered print publishing business. It has also bought out its partner in BMG, private equity group KKR for the exclusive ownership of the music rights company.
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