Bertelsmann is Prepared for all Options
Bertelsmann AG announces that its minority shareholder Groupe Bruxelles Lambert (GBL), which holds a 25.1 % stake in Bertelsmann AG, may exercise, for the first time on the day after today's Annual General Meeting, its right to demand a possible exit by selling shares on the stock market. This was agreed upon in 2001.
The Executive Board is prepared that GBL may submit its listing request tomorrow or at a later date. Bertelsmann will fulfill its contractual obligations and prepare the listing of shares held by GBL in accordance with the 2001 agreement. Bertelsmann already meets the requirements of the capital markets.
Apart from this, Bertelsmann is also prepared for a buyback of GBL’s stake at a reasonable price, if the shareholders reach an agreement. The Executive Board and the majority shareholder are unanimously of the opinion that in the case of such a repurchase, Bertelsmann would be able to continue to invest in its businesses and maintain its solid financial standing.
The Executive Board firmly believes that Bertelsmann will continue to develop successfully regardless of whether Bertelsmann shares are publicly listed or whether it buys back GBL’s shares – this is demonstrated by the company’s results for 2005 and the performance in the first months of this year, which are due in part to the investments made last year. Bertelsmann will also continue to manage the company in accordance with its established corporate culture regardless of whether a listing is made.For further questions, please contact:
Andreas Grafemeyer
Senior Vice President Media Relations
Phone: +49 – 5241 – 80 24 66
andreas.grafemeyer@bertelsmann.deAttachment
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