Hamburg, 10 April 2005 –
Last Friday, April 8th, 2005, the EU Antitrust Commission granted its approval of Gruner + Jahr´s acquisition of the majority of shares in Motor-Presse Stuttgart. There were no conditions attached to the approval. Thus, all antitrust barriers to the acquisition of the Vereinigte Motor-Verlage (VMV) Stuttgart shares held by the Würzburg-based Vogel media group (45.7 percent) have now been eliminated. G+J previously owned a 17.1 percent stake in VMV, which will be merged with Motor-Presse-Verlag into the future Motor-Presse Stuttgart (MPS) in a parallel move. G+J now holds 54.9 percent in this company.
The Pietsch group is increasing its holdings in the company to 25.1 percent, while the two Dietrich-Troeltsch groups together hold 20 percent. The contracts in question were signed in November 2004.
Gruner + Jahr CEO Dr. Bernd Kundrun said: ;quotOur acquisition of the majority stake in Motor-Presse Stuttgart is a historic milestone for our growth strategy in Germany and abroad. Motor-Presse is a highly profitable and excellently managed company. Its high quality standards and first-class portfolio make it a perfect match for us. And it will continue to be managed by Dr. Friedrich Wehrle as a separate publishing group. We greatly look forward to our continued collaboration with the other MPS shareholders.;quot
Gruner + Jahr AG & Co KG
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