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 - 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: Contact Bastei Lübbe AG: 2016-11-24 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
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: | investorrelations@luebbe.de | |
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 |