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The Vienna investment house VCP Capital Partners AG acquires 25.1% of the shares in Blic, Serbia’s largest newspaper publishing house in terms of coverage and engages in a partnership in Yugoslavia with Gruner + Jahr, Europe’s largest newspaper publisher
Vienna/Hamburg March 27, 2003
Gruner & Jahr AG has sold 25.1% of its shares in its Serbian subsidiary BLIC Press to Vienna Capital Partners (VCP) and will keep the remaining 74.9% in the future. The companies have furthermore decided to engage themselves in a close cooperation in Yugoslavia.
BLIC Press publishes several titles including Serbia’s largest daily newspaper BLIC with a circulation of more than 120,000 copies and approximately two million readers as well as Blic News, a weekly magazine with more than 200,000 readers. BLIC is one of the most profitable publishers in the region. BLIC is currently part of a consortium constructing a new printing plant.
It is the first investment of own money for Vienna Capital Partners in Serbia. Heinrich Pecina, VCP Senior Partner: “The investment in BLIC is a manifesto of our appraisal of the positive future political and economical development of the country and the region as a whole. In line with other strategic analyses we are positive investing the Serbian media-sector and have found an excellent partner in Gruner + Jahr” .
Achim Twardy, Head of Gruner + Jahr’s Newspaper Division: “The majority stake in BLIC confirms our belief that the democratic development in Serbia is irreversible and that the country will catch up with Europe economically. Simultaneously we have found the ideal partner for the development of our business in the region in VCP. The new printing plant will secure an excellent platform for the editorial and economic success of the company”.
Gruner + Jahr
With more than 110 newspapers and magazines in 15 countries, more than 11,000 employees and sales of over 2.8 billion Euro in the business year 2002, Gruner + Jahr AG & Co KG is Europe's largest publishing company. More than 60 percent of sales are made outside of Germany, Gruner + Jahr's home base. 74.9% of Gruner + Jahr is owned by Bertelsmann AG, and 25.1% is owned by the Hamburg publishing family Jahr.
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© VCP AG 2010
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