Mondadori to increase to 100% its stake in Mondolibri S.p.A.
Preliminary contract agreed for the acquisition of the 50%held by the DirectGroup Bertelsmann
Arnoldo Mondadori Editore S.p.A. today stipulated a preliminary contract with Società Holding Industriale di Grafica S.p.A. for the acquisition of 50% of the share capital of Mondolibri S.p.A., of which Mondadori already holds 50% as part of a joint venture with DirectGroup Bertelsmann.
The transaction value of this deal is €6.75 million.
With this acquisition Mondadori will increase its stake in the company to 100%.
Mondolibri, a leading player in the mail order book market and one of Italy’s most important online retailers, is comprised of two divisions: Book Clubs, which is in the mail order sale of editorial and multimedia products through book clubs alongside more than 70 retail outlets and a web platform, and Bol.it, an on-line shop for editorial and multimedia products.
In 2008, Mondolibri generated total revenues of €82 million, of which €19 million deriving from e-commerce.
The operation will give the Mondadori Group complete control of Mondolibri, offering, on the one hand, significant opportunities for synergies with the Mondadori bookshop chain; and, on the other hand, the autonomous management of Bol.it, an important, strategic and fast-growing channel for online sales.
The effective completion of the operation is subject to necessary approval by the relevant competition and media authorities.