Cyrte acquires bol.com

Naarden/Nieuwegein, April 24, 2009 - Cyrte Investments acquires bol.com, the leading Dutch online media and entertainment retailer. Cyrte Investments is pleased to announce the acquisition of bol.com, the leading online Dutch retailer, from German based Holtzbrinck Networks GmbH and Verlagsgruppe Weltbild GmbH.

With over 80 million visitors last year, bol.com is the leading online book and media retailer in the Netherlands with number one market positions in various product categories in the fast growing online retail market. The current product offering includes books, CDs, DVDs, games, and a wide range of consumer electronics. Over 2 million customers buy regularly at bol.com and this number is increasing rapidly. In previous years bol.com received many retail and consumer awards. Most recently the company was awarded ‘Best Online Store of the Netherlands’. In a recent survey, bol.com was also rated as one of the top 5 most customer friendly companies in the Netherlands.

The company generated revenues of around €224m in 2008, selling more than 11 million products, and employs 240 people in its office in Nieuwegein, The Netherlands.
Commenting on the transaction, Frank Botman, Chief Executive of Cyrte Investments said: “Cyrte Investments is delighted to be able to support bol.com management and staff who have done a tremendous job in creating one of the most outstanding Dutch companies over the last 10 years. Bol.com is one of the best known and strongest consumer brands in the Netherlands and Cyrte Investments believes the company is well-positioned to continue its growth path. There are still many opportunities for expansion and improvement of the bol.com offering for its millions of customers and we are excited that – through this acquisition – we have the opportunity to fully support the bol.com team in this.”

Daniel Ropers, Managing Director of bol.com said: “We are happy to welcome Cyrte Investments as new shareholder of bol.com. Cyrte Investments is a Netherlands based private equity investor with experience in the Dutch market and in the media space. Therefore we believe Cyrte Investments is the ideal partner to support bol.com through our next stage of development and growth. We are excited to continue, with their help, our successful journey to become the best retailer for books, entertainment and electronics in the Netherlands.”

The acquisition will be made by Flevo Deelnemingen I BV, a Cyrte Investments owned investment vehicle. The transaction is subject to approvals from the relevant antitrust authorities which are expected to be received in the coming months.

Goldman Sachs acted as financial advisor and Loyens & Loeff acted as legal advisor to Cyrte Investments in connection with the transaction.