Turkey’s Dogan Yayin Holding Commerz-Film Gmbh, which is a wholly owned subsidiary of Axel Springer, has acquired a 25% stake in Dogan TV Holding.
The latter has until now been a 100% subsidiary of Dogan Yayin Holding, and according to a statement by Dogan, the stake was worth €375 million as of January 2, 2007.
It added that Dogan TV Holding has benefitted from a recent restructuring of a number of laws and that Commerz-Film Gmbh would be compensated TRY165,523,150 (€67,161,500) due to the impact on the share price caused by the restructuring.
Commerz-Film Gmbh, on the other hand, would participate in a capital increase, from TRY456.5 million to almost TRY1.3 billion.
Commerz-Film Gmbh’s share capital will remain unchanged at 19.9% following the capital increase.
The Dogan group has a large number of media interests including the DTH platform D-Smart.