DirectGroup Bertelsmann sells single BOL assets like BOL web presence and domains to buch.de

DirectGroup Bertelsmann sells to buch.de internetstores AG the web presence of BOL in Germany, in Switzerland, and in Austria, the respective BOL brands, the Internet Domains BOL.de, BOL.ch, BOL.at as well as the customer base in compliance with privacy protection regulations. This means that as of December 1, 2002 the Internet sites of BOL in Germany, Switzerland and Austria will be operated by buch.de. In return, DirectGroup Bertelsmann will receive a share of 25.1 per cent in buch.de and 800,000 EUR.

Although the already announced close-down of the BOL company in Munich will be executed, a solution has been found allowing to continue the online offering for BOL customers in Germany, Switzerland and Austria under the well-known BOL brand.

In Sweden, DirectGroup Bertelsmann sells its 50 per cent share in Bokus to the former Joint Venture Partner Kooperativa Forbundet (KF). It was agreed not to disclose the purchase price.
Bokus employs 17 staff members today and is the market leader in the field of media e-commerce in Sweden. Bokus was launched in 1997 as a KF company before it was converted into a joint venture with Bertelsmann in 1999. Since then Bokus had operated in the market under the BOL brand. In spring 2002 it was renamed Bokus.

In early September 2002 DirectGroup Bertelsmann announced its new strategic priorities. Those included refocusing on the core businesses with the worldwide media clubs and withdrawal from the pure electronic retailing of media products in Europe.
Both BOL deals are subject to the approval of the relevant anti-trust authorities.