Bertelsmann not considering listing Penguin Random House

FRANKFURT: Unlisted German publishing giant Bertelsmann is not considering any further large takeovers worth ‘ billions’ and has no plans to list its Penguin Random House ( PRH) division, chief financial officer Bernd Hirsch told newspaper BoersenZeitung.

Bertelsmann raised its stake in PRH to 75 per cent in July, giving it the option of listing the business after it purchased a PRH stake from rival Pearson.

Asked whether Bertelsmann was seeking full control of PRH, Hirsch said: “We have reached our goal of gaining 75 per cent control.”

Buying the outstanding 25 per cent stake, which is still owned by Pearson, would depend on whether Pearson approached Bertelsmann over the matter, Hirsch said.

Asked whether Bertelsmann would consider listing PRH, Hirsch said: “We have the IPO option. But this is not a scenario which we are thinking about.”

The progress already being made to transform Bertelsmann into a digital publishing company has reduced the need to raise funds via the stock market to finance further strategic change.