Edel SE & Co. KGaA

M&A Activity • Nov 21, 2001

News Details

Ad-hoc | 21 November 2001 14:39

edel music AG english

edel music sells its 80-percent stake in RED Distribution Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– edel music sells its 80-percent stake in RED Distribution Hamburg-based edel music AG has sold its 80 percent stake in RED Distribution, Inc., to Relativity Entertainment Holdings, Inc., a subsidiary of Sony Music Entertainment Inc. effective 1 October 2001. The deal marks a significant milestone in respect of edel’s divestiture activities in the scope of the group’s current restructuring process. The partners agreed not to disclose the purchase price. After completion of the group’s divestiture activities in the near future, edel music will solely focus on its core business: to develop its own artists and break them internationally. The management bord Hamburg, 21. November 2001 Contact: edel music AG, Investor Relations, Bärbel Tomas, Tel 040 / 890 85 225, Fax 040 / 890 85 310, Email Baerbel_Tomas@edel.com end of ad-hoc-announcement (c)DGAP 21.11.2001 ——————————————————————————– WKN: 564951; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Düsseldorf, Hamburg, München und Stuttgart 211439 Nov 01