Bookseller Barnes & Noble Inc. will acquire all of Bertelsmann AG’s interest in Barnes & Noble.com for $164 million. New York-based Barnes & Noble announced its agreement today with DirectGroup Bertelsmann, the direct-to-customer division of German media company Bertelsmann. The transaction will be paid in a combination of cash and notes, equivalent to $2.80 per share. The transaction is expected
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Bookseller Barnes & Noble Inc. will acquire all of Bertelsmann AG’s interest in Barnes & Noble.com for $164 million.
New York-based Barnes & Noble announced its agreement today with DirectGroup Bertelsmann, the direct-to-customer division of German media company Bertelsmann. The transaction will be paid in a combination of cash and notes, equivalent to $2.80 per share.
The transaction is expected to close within 45 days.
"Selling our shares in Barnes & Noble.com is in line with DirectGroup's strategy to exit all media e-commerce businesses and focus on our worldwide book and music clubs," said Ewald Walgenbach, CEO of DirectGroup Bertelsmann, in a statement.
