Bertelsmann To Buy Remaining BMG Stake From KKR

Law360, New York (March 1, 2013, 12:12 PM EST) -- European media titan Bertelsmann AG will swallow up the slice of music rights company BMG that it doesn't already own in a deal reportedly worth as much as $800 million, breaking up a joint venture with New York private equity firm KKR & Co. LP.

The parties didn't disclose the deal's financial terms, but various news reports pegged the value of KKR's 51 percent stake at between $700 million and $800 million. Neither Bertelsmann nor KKR gave a financing breakdown, saying only that they expected to...
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