Bertelsmann has set the price range of the RTL Group shares at €54 to €62 per share. The public share offer comprises up to 25,500,000 shares (including a possible overallotment option of up to 2,318,000 shares) and is expected to start on April 18, 2013 and to end on April 29, 2013.
Start of trading in the Prime Standard on the Frankfurt Stock Exchange is expected for April 30, 2013.
As previously announced, Bertelsmann is expected to reduce its shareholding in RTL Group through the secondary public offering, while maintaining, after the closing of the offering, a qualified majority of at least 75 per cent at this time.
If all offered shares, including the possible over-allotment, are placed, RTL Group’s free float will increase significantly and will be approximately 24% of the share capital. Bertelsmann will retain at least 75% of RTL Group’s share capital after the closing of the offering.
The shares will be offered by Bertelsmann. RTL Group will not raise new capital in connection with the public offering and will not receive any of the proceeds from it.
Deutsche Bank and Morgan Stanley will act as Joint Global Coordinators and Joint Bookrunners for the public offering. BofA Merrill Lynch, Citigroup, Credit Suisse and Goldman Sachs will act as Joint Bookrunners. BNP
Paribas, Petercam and Société Générale Corporate & Investment Banking will act as Co-Lead Managers. Lazard is acting as financial advisor on the transaction.
