Bertelsmann has budgeted €3 billion for acquisitions to counteract slowed growth,
the
Financial Times
reported.
Group CEO Thomas Rabe told the
FT
that the company is targeting the education sector.
The company reported full-year revenues of €16.4billion, up 2% from the previous year, the article said.
Rabe attributed the company’s slow growth to the European economy and the fact that most of its businesses are in traditional media, the
FT r
eport said. Rabe told the
FT
that a reduction in debt makes acquisitions possible.
According to the report, Bertelsmann will invest “well over $100 million” in an education venture fund with the goal of acquiring several portfolio businesses.
Bertelsmann also plans to invest in music rights, the article said. (Source:
Financial Times,
March 27, 2014.)
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