WMG acquires shareholding in Dutch Media Uitgevers
WMG Beheer BV, the holding of Cees Wessels, together with the management (Martijn Griffioen) has acquired a substantial shareholding in book publishing company Dutch Media Uitgevers and Foreign Media Books through a management buy-out (MBO). Main Corprate Finance consulted WMG at the negotiations with the seller NL Media Groep and has arranged the credit facility. The credit facility has been provided by ABN Amro. WMG Beheer is owner of CNR Entertainment and music publishing company ROTC Music. According to Marcus Turner, head of legal affairs, the interest of Cees Wessels is the reason for the sidestep to the book market. “Cees once started in music, but always had interest for other media and culture. For some time he discussed a cooperation with Bart Reefman, owner of Dutch Media Uitgevers.” Cees Wessels: “By this step my desire to be active on the book market with a successful player, a desire I cherished for a long time, has been fulfilled. Together with Dutch Media, the people and authors, we expect to grow further in the coming years.” Dutch Media, consisting of Dutch Media Uitgevers, Foreign Media Books and Dutch Media Trade, is one of the biggest and fastest growing independent book publishers in the Netherlands. The company is established in 2007 by NL Media Groep. Dutch Media publishes books of, amongst others, Niccolò Ammaniti, Arnon Grunberg, Dave Eggers, Daphne Deckers, Kathryn Stockett, Heleen van Royen, Willem Vermeend, Susan Smit, De Waal & Baantjer en Carry Slee. Last year, six books of Dutch Media were quoted in the top 100 bestsellers.