BERTELSMANN ACQUIRES 30 PER CENT OF RTL GROUP

CHANNEL 5 owner, the RTL Group, have announced that media giant Bertelsmann are to acquire the 30 per cent stake of RTL held by GBL through their majority company Electrafina.
The acquisition will be effected by way of a share swap whereby GBL will receive a 25.1 per cent shareholding in Bertelsmann. The present agreement is subject to approval by the GBL Board, Bertelsmann’s Supervisory Board and all relevant regulatory authorities.
Following the transaction, Bertelsmann together with their partner WAZ will control a 67 per cent stake in the RTL Group. Other shareholders will remain unaffected, Pearson plc will continue to hold 22 per cent, 10.3 per cent is publicly quoted at the London, Brussels and Luxembourg stock exchanges, and 0.7 per cent is held as treasury stock by RTL Group.
Bertelsmann and Pearson expect that this announcement will facilitate their plans to increase the proportion of publicly traded shares in the RTL Group. The shareholders also remain committed to maintaining the primary listing in London. RTL Group’s headquarters will remain based in Luxembourg. (CD)