GROUPE BRUXELLES LAMBERT S.A.  /  ELECTRAFINA

(Not for publication before 30 March 2001, 17:40)

 

Final agreement signed by GBL / Electrafina - Bertelsmann

 

Albert Frère, Paul Desmarais and Reinhard Mohn today announce the signing of the final agreement involving GBL/Electrafina (GBL) and Bertelsmann. The agreement confirms the announcement made on 5th February 2001 according to which GBL will contribute its 30% stake in RTL Group to Bertelsmann AG (BAG) in exchange for a 25% interest in BAG.

 

GBL will have the right to request the listing of the BAG shares at the latest from end 2006 on. In the meantime, GBL will be entitled for a period of maximum 5 years to a yearly preferential dividend of minimum EUR 120 million on its 25 % stake.

 

Subject to receiving necessary regulatory approvals, the parties expect this transaction to take effect on July 2, 2001.

 

*

*     *