The World: Berlin - Bertelsmann buys back stake in bid to remain private

Bertelsmann AG, Europe's largest media company by revenue, is buying out a minor investor for EUR4.5 billion to prevent an unwanted initial public offer.

The company is buying back the 25.1 per cent equity stake held by the Belgian investment company Groupe Bruxelles Lambert (GBL).

Bertelsmann, which controls the other 74.9 per cent of the business, is auctioning off BMG Music Publishing in a bid to finance the deal, as well as taking out a bridge loan with a number of banks.

In January, GBL announced that it planned to sell its stake on the stock exchange early next year but Bertelsmann is keen to keep the company private.

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1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).