TITLE

Bertelsmann buys back minority stake

PUB. DATE
May 2006
SOURCE
Hollywood Reporter -- International Edition;5/30/2006, Vol. 394 Issue 31, p45
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that Europe's biggest media company, Bertelsmann AG, will buy back the 25.1% stake owned by its sole minority shareholder, Groupe Bruxelles Lambert, for 4.5 billion. The buyback will be financed by medium-term loans from several banks. Bertelsmann plans to help pay off the loans within the next 12-18 months in part by auctioning off its BMG Music Publishing division. The division is estimated to be worth about $1.7 billion and will be offered to certain parties who have expressed interest.
ACCESSION #
21324944

 

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