Bastei Lübbe AG: Implementation of joint growth strategy: Bastei Lübbe AG sells 3 % share in Daedalic Entertainment GmbH to British investor
DGAP-News: Bastei Lübbe AG / Key word(s): Miscellaneous
Implementation of joint growth strategy: Bastei Lübbe AG sells 3 % share in Daedalic Entertainment GmbH to British investor
Cologne, 17 September 2015. Bastei Lübbe AG has sold a 3 % share in Daedalic Entertainment GmbH ("Daedalic") to British investor Blue Sky Tech Ventures Limited on the basis of a purchase agreement with effect from today. This has reduced Bastei Lübbe AG's share in Daedalic to currently 48 %. Blue Sky Tech Ventures Limited also has an option to acquire another 5 % of the shares in Daedalic in the next year. The British investor also has a 55 % stake in BEAM AG.
Thomas Schierack, CEO of Bastei Lübbe AG, explains the reasons for the share sale: "In the next four years, Daedalic is planning a considerable expansion of its business into the development and sale of adventure games. We now want to approach the financing of this ambitious growth programme with the support of Blue Sky Tech Ventures Limited as well as via equity of Daedalic Entertainment GmbH, thus keeping risks low for all involved." Bastei Lübbe AG is deconsolidating its investment mainly as a response to Daedalic's planned self-financing. "This is intended to prevent the temporary increase in Daedalic's liabilities from negatively affecting Bastei Lübbe AG's balance sheet ratios," says Schierack.
The award-winning games developer Daedalic Entertainment GmbH has been considered one of the best games developers and publishers in Germany for many years. Together with Bastei Lübbe, Daedalic is currently developing a range of new content, including a game based on the global bestseller "The Pillars of the Earth" by Ken Follett. In the 2014 financial year, Daedalic generated revenue of EUR 7.2 million and EBITDA of EUR 1.7 million. In the current financial year, the Hamburg games company is planning to increase revenue to around EUR 10.5 million while growing earnings to EUR 1.9 million on the basis of EBITDA.
Contact Bastei Lübbe AG:
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|Company:||Bastei Lübbe AG|
|Schanzenstraße 6 - 20|
|Phone:||02 21 / 82 00 - 0|
|Fax:||02 21 / 82 00 - 1900|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart|
|End of News||DGAP News Service|