goetzpartners acted as the lead financial advisor to Ringier AG in the set-up of a new joint venture with Axel Springer AG, forming one of the leading media houses in Eastern Europe
Axel Springer will make a cash contribution of € 50 million to the joint venture as well as a compensation payment to Ringier of € 125 million.
The wide-ranging portfolio of the new joint venture will make it the undisputed region’s market leader in the segment of widely circulated tabloid dailies and one of the biggest magazine publishers as well. The two companies will further extend their strong position substantially in these growth markets, with more than 100 print titles and more than 70 online offerings. Furthermore, the shareholders intend to take the joint venture public in three to five years.
With sales on a pro-forma basis 2009 totalling € 414 million, an EBITDA of € 62 million and 4,800 employees, it will become one of the leading media enterprises in Eastern Europe.
The joint venture is subject to the approval of the responsible antitrust authorities.
goetzpartners acted as lead financial advisor to Ringier AG in this transaction. "Ringier AG and goetzpartners have a long-lasting relationship in working together in M&A activities. We are happy to having supported Ringier AG in this important transaction to strengthen its position as a leading European media house with a strong CEE footprint", said Dr. Gernot Wunderle, Managing Partner of goetzpartners.