Bertelsmann Raises $1.8 Billion from RTL Shares

COLOGNE: Bertelsmann has grossed 1.4 billion euros ($1.8 billion) after selling 25.5 million RTL shares, at a price of 55.50 euros ($72.50) per share.

Following the sale, Bertelsmann reduced its holding in the broadcaster to 75.1 percent, from its previous 92.3 percent. Earlier this month, a share price was set between 54 and 62 euros per share, meaning that the sales were at the lower end.

By reducing its stake and making money from the sales, Bertelsmann is looking to fund its global expansion strategy.