The Doan Burda Magazine Group, which was founded in 1988 as a partnership between Doan Holding and Germany’s Burda Group and published 58 magazines, has been sold to the Li Pai investment fund group for $10 million.
Photo: AA
Doğan Media Group, which includes CNN Türk and Kanal D channels, Hürriyet, Posta, Fanatic Newspaper, Doğan News Agency and D-Smart, was sold to Demirören Holding in March 2018 and was incorporated as a public company on July 21, 1988. Burda Magazine Group, whose shares are traded on Borsa Istanbul, was excluded from the scope of the sale.
According to T24 News, Doğan Burda Magazine Group, which was formed in partnership with Doğan Silketler Group Holding and Germany’s Hubert Burda Media Group, is chaired by Dr. Doğan Burda, was built by Emre Çamribel and sold to an investment fund group led by Le Piet.
The sale of the magazines was reported to the Public Disclosure Platform (KAP). The group published 58 magazines, including licensed ones, at weekly, monthly, regular and special regular intervals. With the sale of Doğan Burda, Turkey’s largest magazine group, Aydın Doğan and Doğan Holding have completely withdrawn from the media sector, which they entered 45 years ago.
The statement released by Doan Burda Magazine Group to KAP is as follows:
“The company’s capital is 19,559,175 Turkish liras. 38.22% (7,474,920 shares) of the shares are owned by Doğan Şirketler Grubu Holding A.Ş (Doğan Holding) and 76.30% (14,924,590 shares) of the shares are owned by Burda GmbH. The remaining 10% of the shares are owned by Alt Capital Holding A.Ş. (4,791,998 DOBUR shares), Re-Pie Portföy Yönetimi A.Ş. Altun Capital Venture Capital Investment Fund (3,422,856 DOBUR shares), Re-Pie Yatırım Holding A.Ş. (5,476,569 DOBUR shares) and Re-Pie Portföy Yönetimi A.Ş (5,476,569 DOBUR shares). 1,233,167 shares) (Buyer), subject to certain adjustments, for a total purchase price of USD 10,000,000 (Sale Price) according to the “Share Purchase Agreement” dated August 2007. / 2024, the sale of the company (Transaction) was concluded between Doğan Holding and Burda GmbH and the Buyer.
Pursuant to the aforementioned “Share Transfer Agreement”, Doğan Holding holds 56% of the shares and Burda GmbH holds 44% of the shares in Dergi Pazarlama Pazarlama ve Ticaret A.Ş. The purpose is to transfer all of the shares, which are the capital, to our company according to the valuation value in the valuation report.
It is anticipated that the transaction will close once all closing conditions, including but not limited to notification to competition authorities, have been satisfied.”
Aydın Doğan officially announced the sale of one of his companies to an investment fund: the giant media group acquired Demiroren for $916 million.
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