Bertelsmann SE & Co KGaA (BTGGg.F)
26 Jul 2017
(The following statement was released by the rating agency) LONDON, July 14 (Fitch) Fitch Ratings says there is no impact on Bertelsmann's ratings (BBB+/Stable) from the Penguin Random House (PRH) transaction. Bertelsmann announced it intends to increase its stake in PRH by acquiring a further 22% from current owner Pearson and undertake a capital increase at PRH. Together this is expected to amount to around EUR850 million (USD968 million). The transaction will take Bertelsmann's ownership of P
FRANKFURT, July 14 German publisher Bertelsmann said board member Fernando Carro, chief executive of services unit Arvato, was leaving the company by mutual agreement with immediate effect and would not be replaced.
July 11 The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:
July 11 Britain's FTSE 100 index is seen opening 2 points higher on Tuesday, according to financial bookmakers, with futures up 0.14 percent ahead of the cash market open.
FRANKFURT, July 11 The DAX top-30 index .GDAXI looked set to open 0.3 percent higher on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0638 GMT
LONDON, July 11 Britain's Pearson has agreed to sell a 22 percent stake in the book publisher Penguin Random House to joint venture partner Bertelsmann for around $1 billion to bolster its balance sheet and return cash to shareholders.
* PARTNERS HAVE AGREED TO KEEP PURCHASE PRICE CONFIDENTIAL Source text - http://bit.ly/2sMqAQb Further company coverage: (Gdynia Newsroom)
* Says Q1 consolidated sales from continuing operations flat at 3.94 billion euros
* Says long-term investors such as pension funds, family offices could be partners for Penguin Random House stake
FRANKFURT German media group Bertelsmann expects to raise its stake in its Random House joint venture with Pearson to between 70 and 75 percent and will find a long-term partner if necessary for the rest, its chief executive told Der Spiegel.