The World: Amsterdam - Management at PCM faces court investigation

A Dutch court has ordered a probe into the role of the management of one of the country's leading publishers, PCM, when Apax, a UK private equity company, was a shareholder.

Apax sold its stake in PCM after just three years to another Dutch shareholder, Stichting Democatie en Media, making a significant profit.

The investigation was demanded by two Dutch unions, the National Union of Journalists and FNV Kiem. They claim that although Apax had been invited to obtain new funds for expansion to make PCM less dependent on the income of its four national newspapers, PCM found itself worse off and with mounting debt.

The Dutch Enterprise Court of the Court of Appeal will also examine the role of two former PCM directors, Ton ann de Stegge and Philip Alberdingk Thijm.