German media group Bertelsmann AG has priced its secondary placement of shares in broadcaster RTL Group (RTL.BT) at EUR55.50 a share, amounting to gross proceeds of around EUR1.4 billion, the company announced Monday.

The offering amounted to 25.5 million existing ordinary shares, including an over-allotment option of 2.3 million ordinary shares.

Following the placement, Bertelsmann will hold 75.1% of RTL Group's ordinary shares, assuming full placement of the over-allotment option, and remain a majority shareholder of RTL Group.

Write to Dennis Baker at dennis.baker@dowjones.com

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