24.11.2016
Bastei Lübbe AG DE000A1X3YY0
DGAP-News: Bastei Lübbe AG sells majority of Räder business segment
DGAP-News: Bastei Lübbe AG / Key word(s): Disposal
Bastei Lübbe AG sells majority of Räder business segment
24.11.2016 / 18:15
The issuer is solely responsible for the content of this announcement.
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Bastei Lübbe AG sells majority of Räder business segment
- Bastei Lübbe allocates EUR 14.1 million for the disposal of the Räder
business segment as part of an asset deal
- Bastei Lübbe AG keeps stake in new Räder GmbH together with partner MBH
Mamisch Holding
- Multi-stage Räder deal is "highly logical from an industrial point of
view" in order to develop the company
Cologne, November 24, 2016. Bastei Lübbe AG (ISIN DE000A1X3YY0), which is
listed in the Prime Standard of the Frankfurt Stock Exchange, is selling
the majority of its Räder business segment. There are specific plans to
invest 100% of the shares in Räder in a new limited liability company
(Gesellschaft mit beschränkter Haftung - GmbH) at year-end as part of an
asset deal. In future, Bastei Lübbe AG will retain a 20% stake in the new
company. The new company, Räder GmbH, will be established together with MBH
Mamisch Beteiligungsholding GmbH (Grünwald). MBH Mamisch
Beteiligungsholding GmbH is to hold an 80% stake. "We have received an
attractive offer and found an ideal partner for Räder's future at the same
time. This means that we will also be able to invest in the company's
positive development in the future. This made our decision to sell easy,"
explained Thomas Schierack, CEO of Bastei Lübbe AG.
Specifically, a sale and investment process in multiple stages is planned.
First of all, Räder GmbH, which will be based in Bochum, will be
established together with MBH Mamisch Beteiligungsholding GmbH. Bastei
Lübbe AG will hold a 20% stake in the new company, while MBH Mamisch
Beteiligungsholding will hold an 80% stake. The new company, Räder GmbH,
will buy all trademark rights and 100% of the assets in the Räder business
segment from Bastei Lübbe AG. The purchase price for this is EUR 14.1
million. Bastei Lübbe AG has the corresponding proof of capital. MBH
Mamisch Beteiligungsholding GmbH, based in Grünwald, is privately held
entirely by Mr Tarek Mamisch.
The Supervisory Board of Bastei Lübbe AG has already approved these plans.
The agreement is subject to two suspensive conditions before becoming
effective.
Räder, which will be based in Bochum in addition to another location in
Dortmund, stands out thanks to its extraordinary range of products,
including table decorations, gift ideas, writing material, greeting cards
and fashion and home accessories. It has already received multiple awards,
including the FORM Design Award and the Red Dot Design Award. In the Bastei
Lübbe Group, Räder (Non-Book segment) contributed EUR 17.0 million to
revenue in the past financial year.
For Klaus Kluge, member of the Bastei-Lübbe Management Board, the planned
disposal of the majority of this segment is highly logical from an
industrial point of view: "We acquired Räder in 2011. However, the
bookselling world was still different at the time. Today, we are struggling
with a decline in areas in retail. Räder may still be developing very
positively and dynamically, but a significant amount of growth is coming
from new sales channels beyond traditional bookselling retail. As a result,
Räder is increasingly moving away from our core business. We have now found
a partner with whom we will also be able to develop the company worldwide.
This is a nearly perfect solution."
About Bastei Lübbe AG:
Bastei Lübbe AG is an international media group based in Cologne. Its
business operations focus on developing and licensing content distributed
worldwide physically and digitally. The company's core business includes
the traditional publishing business and the periodical puzzle magazines and
novel booklets in the "Book" segment. With its twelve publishers and
imprints, the group of companies currently offers approximately 3,600
titles in fiction, non-fiction and books for children and young adults. In
the growing segment of hardcover fiction, the company has been the market
leader in Germany for many years. At the same time, Bastei Lübbe is driving
innovation in the field of digital media. As well as the production of
thousands of audio and e-books, the "Digital" segment also includes
holdings in the self-publishing platform "BookRix" and the renowned games
publisher "Daedalic Entertainment". Bastei Lübbe AG's value chain is
completed by the investment in the online shop "beam-ebooks.de" and the new
and internationally unique streaming platform "oolipo".
With currently 413 employees and an annual turnover of roughly EUR 104.9
million (financial year 2015/2016), Bastei Lübbe AG is the largest medium-
sized family company in the German publishing industry. Since 2013, the
company's shares have been listed in the Prime Standard of the Frankfurt
Stock Exchange (WKN A1X3YY, ISIN DE000A1X3YY0). Further information is
available at www.luebbe.de.
Contact Bastei Lübbe AG:
Barbara Fischer
Director / Vice President
Public Relations
Tel.: +49 (0) 221 / 82 00 28 50
E-mail: [email protected]
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24.11.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Bastei Lübbe AG
Schanzenstraße 6 - 20
51063 Köln
Germany
Phone: 02 21 / 82 00 - 0
Fax: 02 21 / 82 00 - 1900
E-mail: [email protected]
Internet: www.luebbe.de
ISIN: DE000A1X3YY0, DE000A1K0169
WKN: A1X3YY, A1K016
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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