German media group Bertelsmann plans to sell its 50 percent stake in music company Sony BMG and its wholly owned music publishing arm to avoid a stock market listing.
Groupe Bruxelles Lambert, the investment vehicle of Belgian financier Albert Frere, has said it plans to take public its 25 percent stake in Bertelsmann, a company that has been closely held for 170 years. The combined value of Bertelsmann’s stake in Sony BMG, a 50-50 joint venture with Japan’s Sony Corp., and its BMG Music Publishing operations is reported to be about $3.5 billion to $4 billion.
