All legally binding documents were signed on September 9, 2013. The parties expect to finalize the transaction, financial settlements and acquisition by the end of the year after receiving necessary approvals from regulatory authorities.
“We are excited about the opportunities this deal brings us and we look forward to significantly developing this interesting segment of luxurious interior design and home decoration in Russia. This move underlines our strategy of building a significant luxury business in the country, whilst building on our success in the mass market segment,” explains Jürgen Ulrich, CEO Burda Russia.
“RBC’s strategy is to strengthen its leadership in the business information segment. The divestment of the Salon-Press business, which specializes in interior design print publications, is a logical step in implementing this strategy, allowing us to optimize RBC’s asset portfolio structure and to focus on the company’s priority areas of business. The proceeds from the sale will be allocated to launch new projects in core segments,” says RBC’s President Derk Sauer.
